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Swanson’s SupervaluABERDEEN, WASHINGTON
THE OFFERING provides the opportunity to acquire an exceptional single-tenant sale-leaseback grocer that has served the Aberdeen community for over 110+ years. The property offers a 20-year absolute NNN lease that is personally guaranteed by the operator and features annual increases throughout the entire lease term. A substantial renovation was recently completed by the tenant which further increased year over year sales and the properties long term security to prospects.
Absolute NNN Grocer With 20-Year Lease.
PAGE 3
THE OFFERINGSWANSON’S SUPERVALU
■ 20-YEAR ABSOLUTE NNN SALE-LEASEBACK OPPORTUNITY, PROVIDING NO LANDLORD RESPONSIBILITY.
■ 1.5% ANNUAL INCREASES DURING THE FULL PRIMARY TERM AND OPTIONS PERIOD.
■ STRONG SALES INCREASES YEAR OVER YEAR.
■ SWANSON’S SUPERVALU HAS SERVED THE ABERDEEN COMMUNITY FOR OVER 112 YEARS.
■ RECENT STORE RENOVATION AND UPGRADE DONE BY TENANT.
INVESTMENT HIGHLIGHTSSWANSON’S SUPERVALU
LEASEABLE SF 39,000 SF
LAND AREA 111,949 SF
LEASE TERM 20 Years
LANDLORD RESPONSIBILITIES None
GUARANTEE Personal
PARKING148 Spaces;3.8/1,000 SF
ADDRESSES 217 N Boone St.Aberdeen, WA 98520
$4,920,000PRICE
6.50%CAP
SUPERVALU, INC. IS a retailer and wholesaler of grocery products. It is currently the 5th largest food retailing company in the US and was most recently ranked in the top 250 of the 2019 Fortune 500 list. The company was bought by United Natural Foods Inc. (NYSE: UNFI), the largest distributor to Whole Foods Market and other natural food stores in the US, in 2018 for $2.3 Billion.
About Supervalu
OVER 20 MILLION SF OF WAREHOUSE SPACE NATIONALLY
29M
HEADQUARTERSMinneapolis, Minnesota
EMPLOYEES NATIONWIDE
29,000
2019 WAS THE 6TH CONSECUTIVE YEAR ON THE FOOD LOGISTICS TOP GREEN PROVIDER LIST.
In the News
UNFI’S NET SALES UP 18.9% YEAR OVER YEAR
18.5%
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THE TENANTSWANSON’S SUPERVALU
SWANSON’SSUPERVALU
HARBOR HIGH SCHOOL
N ALDER ST.
N ALDER ST.
N PARK ST.
N PARK ST. W WISHKAH ST.
W WISHKAH ST.
W HERON ST.
W HERON ST.
12
101
S BO
ON
E ST.S B
OO
NE ST.
28,000 VPD
18,000 VPD
29,418 2019 POPULATION
29,6752024PROJECTED POPULATION
$60,592AVERAGEHOUSEHOLDINCOME
$47,172MEDIANHOUSEHOLDINCOME
1,206 TOTALBUSINESSES
11,594 TOTALEMPLOYEES
Within 5 Miles
PARCEL LINE
101
N B
OO
NE ST.
N B
OO
NE ST.105
28,000 VPD
18,000 VPD
PAGE 9
LOCATION OVERVIEWSWANSON’S SUPERVALU
Income & Expense
PRICE $4,920,000CAPITALIZATION RATE 6.50%
CASH FLOW SUMMARYSCHEDULED INCOME PER SFBase Rent for the Period of: 4/1/2021 - 3/31/2022 $8.20Total Effective Gross Income (EGI) $8.20
OPERATING EXPENSES PER SFCAMSProperty TaxesInsuranceTotal Operating Expenses NNN -
NET OPERATING INCOME
$319,636$319,636
NNNNNNNNN
$319,636
1/11/2021 [ <www.CapitalPacific.com> ]
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
FINANCIAL SUMMARYSWANSON’S SUPERVALU
Rent Roll
4/1/2021 - 3/31/2041
39,000
MONTHLY BASE RENT % INCREASE ANNUAL
RENT PSF CAP RATE
4/1/2021 $26,636 $319,636 $8.20 6.50%4/1/2022 $27,036 1.5% $324,430 $8.32 6.59%4/1/2023 $27,441 1.5% $329,297 $8.44 6.69%4/1/2024 $27,853 1.5% $334,236 $8.57 6.79%4/1/2025 $28,271 1.5% $339,250 $8.70 6.90%4/1/2026 $28,695 1.5% $344,338 $8.83 7.00%4/1/2027 $29,125 1.5% $349,504 $8.96 7.10%4/1/2028 $29,562 1.5% $354,746 $9.10 7.21%4/1/2029 $30,006 1.5% $360,067 $9.23 7.32%4/1/2030 $30,456 1.5% $365,468 $9.37 7.43%4/1/2031 $30,913 1.5% $370,950 $9.51 7.54%4/1/2032 $31,376 1.5% $376,515 $9.65 7.65%4/1/2033 $31,847 1.5% $382,162 $9.80 7.77%4/1/2034 $32,325 1.5% $387,895 $9.95 7.88%4/1/2035 $32,809 1.5% $393,713 $10.10 8.00%4/1/2036 $33,302 1.5% $399,619 $10.25 8.12%4/1/2037 $33,801 1.5% $405,613 $10.40 8.24%4/1/2038 $34,308 1.5% $411,697 $10.56 8.37%4/1/2039 $34,823 1.5% $417,873 $10.71 8.49%4/1/2040 $35,345 1.5% $424,141 $10.88 8.62%
CURRENT $26,636 $319,636 $8.20 6.50%
SWANSON'S SUPERVALU
Lease Term:
Size (SF):
RENT SUMMARY
DATE
OPTIONS
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer
must verify the information and bears all risk for any inaccuracies.
LLeeaassee NNootteessComments: Absolute Net Lease - Tenant to lease-back the premises for a brand new 20-year term from close of escrow.
4, 5-Year Options w/ 1.5% Annual Increases.
1/11/2021 [ <www.CapitalPacific.com> ]
PAGE 11This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
RENT ROLLSWANSON’S SUPERVALU
Premise & Term
TENANT Swanson’s Foods of Aberdeen, Inc.
LEASE TYPE Absolute NNN
LEASE COMMENCEMENT Close of Escrow
LEASE EXPIRATION 20 Years
GUARANTEE Personal Guarantee by Operator
INCREASE 1.5% Annual Increases
OPTIONS 4, 5-Year Options
BUILDING SF 39,000 SF
LEASE ABSTRACTSWANSON’S SUPERVALU
Our brokers collaborate.
MEET THE ENTIRE TEAM HERE.
KEVIN ADATTO
SEAN TUFTS
MICHAEL HORWITZ
SCOTT FRANK
SEAN MACK
DAVID GELLNER
LANCE SASSER
PETER DUNN
MICHAEL LOWES
MAGGIE WOLK
AUSTIN COHN
Copyright © 2020 Capital Pacific LLC
CAPITALPACIFIC.COM
The information in this Executive Summary has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. All rights reserved to Capital Pacific, LLC.
DAVID [email protected]: 206.747.4338
