Yoshinoya and Banfield Pet Hospital | New Corporate NNN Leases
Escondido, CA
Price: $5,524,000Cap Rate: 5.00%Building SF: 5,404 SFLot Size: 0.758 AcreYear Built: 2018Status: Available

Investment Highlights: 

New Corporate 10-Year NNN Leases – New 2018 Construction – Built in 2018, the 5,404-square-foot two-tenant retail building is 100% leased to Yoshinoya (Drive-Thru) and Banfield Pet Hospital on Corporate Leases. Yoshinoya and Banfield both have new 10-year NNN leases that feature rent increases every five years in the Primary Term and Option periods, providing an investor with a solid passive investment with consistent rent growth.

Internet Resistant Tenants: Yoshinoya (w/ Drive-Thru) & Banfield Pet Hospital

Yoshinoya is a Japanese multinational fast food chain, and the second-largest chain of beef bowl restaurants. Founded in 1899, there are more than 2,000 locations worldwide in Japan, Hong Kong, China, Malaysia, Singapore, the Phillippines, Indonesia, Thailand, Cambodia, and in the state of California, in the United States.

 

Banfield Pet Hospital was founded in Portland, OR in 1955 and is the largest privately-owned veterinary practice in the U.S. with an estimated annual revenue of $800 million. In 2007 they became a wholly owned subsidiary of Mars, Inc. and now operate over 1,000 pet clinics in the U.S., Mexico, Puerto Rico, and the UK.. 

Signalized Hard Corner Intersection (63,000 CPD) – Major Commuter Corridor – Proximity to Interstate 15 & Hwy 78 – The subject property is located at the signalized hard corner intersection of Centre City Pkwy & Mission Avenue, which sees combined traffic counts of 63,000 cars per day. Centre City Pkwy is a major retail/commuter corridor, for travelers to/from Hwy 78 (86,000 CPD), a major east-west artery to coastal cities and beaches, and to Interstate 15 (243,000 CPD), a prominent north-south freeway carrying travelers south to Downtown San Diego and north to Temecula, Riverside and beyond.

Dense Infill Location (220,000 People w/in 5 Miles) – 2 Miles from Palomar Medical Center (Escondido’s Largest Employer) – Proximity to Downtown Escondido Offices  – The building is centrally located in a dense retail and residential area, with over 222,000 people within a 5-mile radius with an average household income of nearly $93,000 and median home value of $445,000. The property offers outstanding proximity to nearby downtown Escondido offices as well as several surrounding shopping centers anchored by Lowe’s, Walmart, Smart & Final Extra, Albertsons, and more, providing an outstanding draw to the trade area and excellent retail synergy.

Located in Desirable North San Diego County Market – Centrally Located Between San Diego & Temecula/Riverside County – Regional Economy  – The subject property is located within the City of Escondido, a growing community in North San Diego County. Inland North San Diego County, of which Escondido is at the core, is emerging as a regional economic leader in the forefront of job development and new industries. Escondido has a comprehensive mix of successful businesses, supplying a diverse job base and high quality of life. Escondido is located within the 78 Corridor, which has become a hub for innovation.

 


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