INVESTMENT HIGHLIGHTS
BRAND NEW 13-YEAR LEASE EXTENSION
Shari’s Cafe and Pies just signed a 13-year lease extension, providing an investor with long-term, passive cash flow.
AAA LOCATION / PAD TO WINCO FOODS, TARGET & ADJACENT TO CHICK-FIL-A
The Property sits as an out pad to a high-volume WinCo Foods grocery store, Target and is located directly adjacent to Chick-fil-A. These surrounding anchor retailers provide a consistent traffic draw to the Property.
ABSOLUTE NET LEASE
The Property features an Absolute NNN lease with ZERO Landlord management or repair responsibilities.
CORPORATE LEASE GUARANTEE
The Lease is guaranteed by Shari’s corporate, which boasts a total of 92 stores with over 4,000 employees in 5 states.
2% ANNUAL RENT INCREASES
The Lease features rare 2% annual rent increases during the 13-year term, providing an investor a hedge against inflation.
BUILD TO SUIT W/ STRONG HISTORICAL OCCUPANCY
The Property was a build-to-suit for Shari’s Cafe and Pies in 1994. Shari’s has continuously operated at this location for nearly 30 years. The new 13-year lease extension shows its continued commitment to this site, which is tailored to its needs.
LARGE 0.96 ACRE LOT WITH GREAT VISIBILITY AND SIGNAGE
The Property benefits from its location directly on Blue Lakes Blvd, with traffic counts in excess of 30,000 VPD. Also, the Property sits at the main entrance to the shopping center with great visibility and large pylon signage.
LOCATED ON HIGH TRAFFIC ARTERIAL (30,000+ VPD)
The Property sits directly on Blue Lakes Blvd, boasting in excess of 30,000 VPD and consistent traffic entering and exiting the large, Target and WinCo Foods parking lot.
PRIME RETAIL TRADE AREA
The Property benefits from its location in the heart of Twin Falls MSA’s retail trade area. The Property is an out pad to a Target, WinCo, Office Depot, PetSmart anchored shopping center; is nearby to Costco, Magic Valley Mall, Lowe’s Home Improvement, and The Home Depot; and is adjacent to multiple large hotels.
AFFLUENT, HIGH POPULATION GROWTH SUB-MARKET
Within a 5-mile radius, the population has grown over 22% since 2010 and is projected to increase by another 6.3% in the next 5 years, with average household incomes exceeding $73,000. Within a 1-mile radius, the population has grown by 26% since 2010.
Listing Agents:
CLAYTON J. BROWN
RUTHANNE LOAR
206.493.2622
ruthanne.loar@marcusmillichap.com
