Rally’s: One of the Largest Drive Thru Restaurant Chains in the U.S. – 900 Locations Across 28 States – The building will be 100% leased to WNK Foods dba Rally’s (see page 14 of the Offering Memorandum for detailed tenant info) , which is owned by Checkers Restaurants, Inc. Checkers Drive-In Restaurants, Inc. is one of the largest chains of double drive-thru restaurants in the United States. The company operates nearly 900 Checkers and Rally’s restaurants across 28 states, and the District of Columbia.
New 15-Year Triple-Net (NNN) Lease – Rent Growth – New Build-to-Suit Construction – The new 15-year NNN lease features 10% rent increases every five years in the Primary Term and (1) 5-year option period, offering an investor a passive income stream with solid rent growth. The location will be a newly constructed build-to-suit with an estimated rent commencement in May 2020.
Signalized Hard Corner Location – Heavily Trafficked Corridor – The subject property is ideally located at the signalized hard corner intersection of E. Foothill Blvd & Acacia Ave offering excellent visibility & signage to 33,000 cars per day. E. Foothill Blvd is a major retail/commuter corridor, offering an outstanding customer draw to the convenience and easy in/out access to the property for commuters.
Located Across from Acacia Plaza: Stater Bros-Anchored Shopping Center – E Foothill Blvd a Major Retail Corridor – Strong Draw to the Trade Area – The property is located within a strong retail trade area across from Acacia Plaza, a Stater Bros anchored center with co-tenants Pep Boys, A1 Tires, and Burger King. Other nearby retailers along this corridor include Bank of America, Chase Bank, AutoZone, Walgreens, U-Haul, Shell, T-Mobile, and Arco, as well as restaurants such as Church’s Chicken, Burger King, Brothers Pizza, Subway, and KFC.
Located in Rialto, Suburb of San Bernardino – Home to Distribution Center for Staples, Target, Under Armour – The property is located within the City of Rialto, in San Bernardino County. Rialto is situated central to San Bernardino and Riverside. Rialto is home to four major regional distribution centers: Staples Inc., which serves stores across the entire West Coast of the United States, Under Armour and Target in the northern region of the city, in the Las Colinas community. One of the United States’ largest fireworks companies, Pyro Spectaculars, is also headquartered in Rialto.
Rialto is a suburb of San Bernardino, a city located in the Inland Empire that serves as the county seat of San Bernardino County, California. As one of the Inland Empire’s anchor cities, San Bernardino had a population of 216,995 in 2017. San Bernardino is the 17th-largest city in California and the 102nd-largest city in the United States.
San Bernardino County: Over 2 Million Residents – Distribution & Logistics Hub at Nexus of Airports, Interstate Highways, and the Busiest Rail Corridors in the U.S. – Rialto is located in San Bernardino County. Encompassing more than two million residents with a workforce exceeding 950,000. Its assets include an innovation corridor of close to two dozen colleges and universities supporting a strong, diverse workforce. Strategically located just over 40 miles from 2 major seaports, San Bernardino County is at the nexus of 3 international and logistics airports that; 6 interstate highways, and the busiest rail corridors in the U.S.
San Bernardino County labor costs tend to be lower than those in Los Angeles, Orange and San Diego counties. Many of the residents who commute to the coastal counties for work are willing to accept lower pay for jobs closer to home. Forty-seven percent of local residents would accept at least five percent lower pay to avoid commuting to Orange County, while one percent would accept 15 percent less to work locally.
Its residents also benefit because of our lower cost of California living. Many products and services as well as the cost of housing are lower in the County. For this reason, local residents enjoy higher net disposable incomes and higher standards of living than what the income data indicate.