Tractor Supply and Big 5 Sporting Goods | Northern California
Clearlake, CA
Price: $5,248,000Cap Rate: 6.25%Building SF: 41,109 SFLot Size: 4.47 AcresYear Built: 1994 / Renovated 2018Status: Available

Investment Highlights: 

Strong National Tenants: Tractor Supply & Big 5 Sporting Goods – Corporate Lease Guarantees – Strong Regional Performers  – The subject property is leased to two nationally recognized tenants, enhancing their success and offering outstanding synergy. Big 5 Sporting Goods is one of America’s top retailers of name brand sporting goods and accessories. As of May 10, 2018, Big 5 operated 435 locations across 11 western states. Tractor Supply Company (NASDAQ: TSCO) is the largest operator of rural lifestyle retail stores in the United States, operating over 1,700 retail stores in 49 states, and employinng more than 24,000 team members. Tractor Supply is a leading edge retailer, reporting annual revenues of approximately $7.26 billion. Tractor Supply has successful operations in Windsor, Ukiah, Willows and Woodland, and Big 5 is performing well in Ukiah, Woodland and Santa Rosa.

Shadow Anchored by Only Walmart in the County – Serves as Retail Hub in the Region – The property is located within the Clearlake Shopping Center (one of only two shopping centers in the trade area) and is shadow anchored by Walmart. This Walmart is the only one is the entire county and serves as a vital retail hub within the region which provides a consistent customer draw to the subject property. The Clearlake Shopping Center features desirable national co-tenants such as McDonald’s, Carl’s Jr., and Jack in the Box, providing retail synergy to the site.

Strong Performing Trade Area – High Barrier to Entry – Clearlake houses a significant barrier to entry for new development and is one of only two retail shopping centers in all of Clearlake. It is also centrally located near the Clear Lake Campground, the Lake County Superior Court, the Adventist Health Center at Saint Helena Hospital, and the Lake County Campus of Woodland College which serves 1,000 students, providing strong customer draw to the subject property.  

Complete 2018 Renovations – New Long Term Leases – Strong Rent Growth – The building underwent complete renovations including a brand new roof, upgraded insulation, new electrical feed to the building, all new glass line, facade, sealing and paint, as well as improved landscaping, parking lot, and new LED lot lights. Tenant finishes and HVAC are new and pylon sign was raised and completely renovated.

Both Tractor Supply and Big 5 just signed new long-term leases. Tractor Supply’s 10-year lease features 5% rent increases every five years throughout the Primary Term and in the (4) 5-year option periods. Big 5 Sporting Goods’ 7-year lease features 10% rent increases every five years in the Primary Term and through each of its (4) 5-year options.

Located Along Highway 53 – Major Traffic Corridor (18,000+ CPD) – Excellent Access – The subject property is located on Dam Road, at the hard corner intersection of Highway 53, providing a highly visible entrance to the center at the signalized intersection. Highway 53 is the main corridor in/out of Clearlake and sees traffic counts of 18,000+ cars per day. 

Located in Clearlake – Home of Clear Lake “Bass Capital of the World” – Popular Tourism Region – The subject property is located in Clearlake, CA, in Lake County, which lies 50 miles north of Napa County and 109 miles of San Francisco. Clearlake is the home of Clear Lake, a natural freshwater lake with over a hundred miles of shoreline and 68 square miles of surface area, making it the largest natural freshwater lake wholly within the state. Known as the “Bass Capital of the West,” Clear Lake supports large populations of bass, crappie, bluegill, carp and catfish. Clear Lake was most recently ranked by Bassmaster Magazine in 2016 as the #3 best bass lake in the United States and the #1 best bass lake on the West Coast. 

 

The region is a popular tourism hub, with visitors flocking to the lake to enjoy popular lake activities such as skiing, fishing, and sailing, and kayaking and stand-up paddling. In addition, the area has gained popularity for its wines. The Mediterranean microclimates and rich soil produces impressive Cabernets and Sauvignon Blancs at over 30 wineries on 8,700 acres of vineyards.


Ryan Barr

rbarr@lee-associates.com
O. 760.448.2446
F. 760.929.9977

Ryan Bennett

rbennett@lee-associates.com
O. 760.448.2449
F. 760.929.9977