Investment Summary
Price | Best Offer |
Cap Rate | |
NOI | |
Lease Term | Call for more information |
Lease Type | Call for more information |
Rental Increases | Call for more information |
Year Built | Call for more information |
Building Size | Call for more information |
Lot Size | Call for more information |
Status | Sold |
Lead Brokers | Ryan Forsyth Executive Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Vince Aicale Executive Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ed Hernandez Managing Director 949.930.4380 ed.hernandez@cushwake.com CA RE License #01048813 |
Investment Highlights
Portfolio Highlights
California Centric: 90% of the Portfolio cash flow is based in California which is the 5th largest economy in the world ($3 Trillion annually). Since 1978, California’s compound annual NOI growth rate is 4.7%, nearly twice the growth of the U.S.
Product Type Diversity: The 20 assets vary in product type and include single tenant retail (31%), office (34%), and industrial/flex (35%) properties. There is regional diversity with assets located from San Diego to Sacramento as well as two assets in the Austin/San Antonio region and one asset in Atlanta, Georgia.
National Credit Tenants: 87% of the Portfolio is leased to national/credit tenants: 70% are investment grade and 45% are Fortune/S&P 500. 70% are leased on a net basis with 2%-3% annual increases for
minimal owner responsibilities. n Balanced Rollover: The average remaining lease term is approximately 5 years with 40% of the Portfolio lease terms having 4 years or less and 60% with 5 years or more. Expirations range from 2021 to 2033.
Individual Asset Exit Strategy: Significant future value may be realized by investors implementing a strategy to sell assets to local private and 1031 exchange buyers on a one-off basis.
Tenant Highlights
- Retail assets include investment-grade and national tenants such as Dollar General, Walgreens, Dollar Tree, Rite-Aid, and Chevron. Many have more than 7 years remaining lease term.
- Office tenants include investment grade tenants Solar Turbines (owned by Caterpillar) in San Diego and The Gap, GSA, and Sutter Health in Northern California.
- Industrial/Flex/R&D properties are highlighted by credit tenants such as healthcare company Covance (LabCorp), international engineering firm Amec Foster Wheeler, Illinois Tool Works (S&P 500), and L3 Technologies (S&P 500).
Property Description
<b> Sold</b>
Cushman & Wakefield is pleased to offer for sale the fee interest in the Rich Uncles REIT I Portfolio (“The Portfolio”) comprised of twenty (20) single tenant assets located in California (17 assets),
Texas (two assets), and Georgia (one asset). The Portfolio offers the opportunity to acquire a sizable collection of 100% leased office, industrial, and retail assets that is California centric with a national and investment-grade credit tenant profile, significant rent growth potential, and a variety of future exit strategies.