Investment Highlights

NNN LEASE TO STRONG CORPORATE TENANT
» Long-term NNN lease with 11 years remaining, plus ten five-year options
» 10% rental increases in 2019 and every five years thereafter, providing a hedge against inflation
» Guaranteed by Rite Aid Corporation (NYSE: “RAD”), the largest drugstore chain on the East Coast and the third largest in the U.S.

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Located in Sunrise Pointe, a shopping center at the signalized hard corner of Sunrise Avenue (40,725 AADT) and Cirby Way (36,082 AADT)
» Convenient access to Interstate 80 (183,200 AADT)
» Close proximity to the Roseville Galleria, the second largest mall in Northern California, and the Roseville Automall, one of the largest auto malls in the nation

LARGE, AFFLUENT CUSTOMER BASE
» Population of 303,428 with an average household income of $86,778 within a five-mile radius
» In the last five years, Roseville’s population has increased 9.7% and its median household income has increased 18.3%
» Roseville is a regional shopping hub and has the thirteenth highest retail sales of all California cities

LOCATED IN THRIVING SACRAMENTO MSA
» The Sacramento MSA is the fourth largest and the third fastest growing MSA in California
» Sacramento is expected to outpace the national average in job and population growth by more than double over the next ten years

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Property Description

SOLD

The property is located in Sunrise Pointe, a shopping center strategically positioned at the signalized hard corner of Sunrise Avenue and Cirby Way, with nearly 77,000 vehicles per day at the intersection. Sunrise Pointe features a number of national retailers, including Starbucks, Panda Express, Little Caesars, Cricket Wireless, and Moe’s Southwest Grill. The property enjoys excellent access and visibility from Sunrise Avenue, which connects to Interstate 80 less than a mile north of the site. Interstate 80, with a traffic count of 183,200 vehicles per day, is one of the main freeways in the Sacramento area and provides access to major retail centers, such as the Roseville Automall and Roseville Galleria. The Roseville Galleria, located less than three miles north of the property, is the main shopping mall in the area, and is also the second largest mall in Northern California. The upscale mall is anchored by Macy’s, Nordstrom, JCPenney, and Sears, and includes designer tenants such as Burberry, Coach, Michael Kors, Tiffany & Co., Kate Spade, L’Occitane, and many others. The Roseville Automall, located approximately a mile and a half from the property, is one of the largest auto malls in the country, featuring 17 different car dealerships, including Toyota, Honda, Nissan, Chevrolet, Acura, Mazda, Ford, BMW, and Lexus. Other major retailers in the property’s immediate area include Safeway, Bel Air, McDonald’s, KFC, and Pizza Hut.

The property benefits from its prime location in an affluent, densely populated area. The population of Roseville has been growing rapidly, with a population increase of 9.7% in the past five years. Over 300,000 people live within a five-mile radius of the property, with 131,812 daytime employees in the same area. Roseville’s rise in population has also come with an increase in household incomes; Roseville’s median household income is $80,658, increasing 18.3% in the past five years. The average household income within a five-mile radius of the property is $86,778. As a result, the large population and affluence of the surrounding area provide an excellent customer base for Rite Aid.