Tenant: Smart & Final Extra! | Fresno, CA
Premises: 36,800 SF
Renewal Options: 5 x 5 Years
Lease Expiration: 7/10/2026
Lease Type: NNN
Rental Increases: 10% at Options
Sands Investment Group is Pleased to Exclusively Offer For Sale the Trophy Grocery Store Located at 7733 N 1st Street in Fresno, California.
- “Trophy” Single Tenant Smart & Final Extra! Located Within the Woodward Village Accompanied With Other National Tenants Such as Subway, Taco Bell and 76 Station
- Triple Net (NNN) Lease With Minimal Landlord Responsibilities – Ideal for 1031 Exchange
- Long Lease Term – Over 6 Years Remaining on Base Term With Four (5 Year) and One (4 Year 11 Months) Option Periods
- Strong Rental Increases Provides Hedge Against Inflation – 10% Increase in 2026 and First Four Option Periods – Greater of FMV or 10% at 5th Option
- Below Market Rent Provides Security For the Investor – Only $15 Per Square Foot
- Strategically Located Just a Few Blocks Off Yosemite Fwy on a Busy Signalized Corner With an Average of 110,590 Vehicles Per Day
- Smart & Final Was Acquired By Apollo Global Management in June 2019 Which Has a Superior Credit Rating and Paying a 25% Premium on Stock Shares – Reflects the Strength and Growth in the Brand
- Fresno is the 5th Most Populated City in California and is Continuing to Experience Vast Population and Industry Growth Given It’s Strategic Location Right in the Heart of the Central Valley
- Located Directly Between Los Angeles and San Francisco, Fresno Boasts an Astonishing Population Density of Over 519,000 People
- Strong Retail Corridor With Neighboring Tenants Including: Boston Market, McDonald’s, Jimmy John’s, UPS Store, Walgreens and Starbucks
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Headquartered in Los Angeles, where the Company began over 147 years ago, Smart & Final Stores, Inc. operates more than 300 grocery and foodservice stores under the “Smart & Final,” “Smart & Final Extra!” and “Smart Foodservice” banners in California, Oregon, Washington, Arizona, Nevada, Idaho and Utah, with an additional 15 stores in Northwestern Mexico.
For years, Smart & Final banner stores were known as the “smaller, faster warehouse store,” primarily focused on providing customers with club-size items. Throughout its evolution, it has remained committed to adapting to the changing needs of the neighborhoods it serves, most notably through its 2008 introduction of Smart & Final Extra! stores. Uniquely positioned to offer time- and money-savings for both household and business customers, Smart & Final Extra! stores include expanded fresh and frozen products, organic and natural products, bulk foods, oven-roasted chicken and many other items sold in convenient sizes. All Smart & Final stores continue to offer 50% more club-size items than a traditional club store, with no membership fee required. As of March 24, 2019, the Company operated a total of 327 stores, including 195 Smart & Final Extra! stores, 63 legacy format Smart & Final stores and 64 Smart Foodservice Warehouse stores.
In 2019, Apollo, a leading global alternative investment manager, announced the successful completion of the previously commenced cash tender offer to purchase all of the outstanding shares of common stock of Smart & Final Stores, Inc. (NYSE: SFS) (“Smart & Final”). Smart & Final will become a privately-held, indirect wholly-owned subsidiary of the Apollo Funds and Smart & Final’s common stock will cease trading on the New York Stock Exchange.