Single Tenant Autozone - SWC of Limonite Avenue & Corey Street Jurupa Valley, California - Avison Young's Net Lease Group
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*photo is not of actual property but similar Autozone FOR SALE Single Tenant Autozone Confidential Offering Memorandum SWC of Limonite Avenue & Corey Street Jurupa Valley, California
*photo is not of actual property but similar Autozone
For more information please contact:
Chris Maling David Maling
Principal Principal Table of
Lic. 01025809
+1 213 618 3824
chris.maling@avisonyoung.com
Lic. 01139115
+1 213 618 3825
david.maling@avisonyoung.com
contents
01. Investment Summary 4-5
02. Offering Summary 6-7
03. Tenant Profile 8-9
04. Area Overview 10-11
05. Location Map 12-13
06. Confidentiality 14-15
2 AVISON YOUNG AUTOZONE | JURUPA VALLEY, CALIFORNIA 3
*photo is not of actual property but
similar Autozone AutoZone
SWC of Limonite Avenue & Corey Street
Investment Summary Offering Summary Jurupa Valley, California
Overview
Avison Young is pleased to present this unique opportunity to acquire
a newly developed single-tenant Autozone on a fee simple ground
lease located at the Southwest corner of Limonite Avenue and
Corey Street in Jurupa Valley, California. The building is situated off a
primary thoroughfare, Limonite Avenue, with close proximity to other
national tenant retailers, including Walmart and the 99 Cents Only
Store. The site is in close proximity to the 15 Freeway and Van Buren,
two major commercial corridors. This is a rare opportunity to acquire
a stable commercial investment market in Southern California.
Investment Highlights
» Fee Simple Ground Lease
» Single tenant building 100% occupied by AutoZone, a
National Credit Tenant
» S & P Rated BBB Investment Grade Credit - NYSE: AZO
» Located adjacent to other National Credit Tenant retailers Offering Price: $2,000,000 Land Area: ±1.22 AC / ±53,143 SF
» Highly visible from primary thoroughfare, Limonite Cap Rate: 4.0% Parcel: 163-021-037-000
Avenue Annual NOI: $80,004 Year Built: 2021
Property Type: Fee Simple Ground Lease Zoning: C-P-S (Scenic Highway Commercial)
Building Area: ±7,380 SF Parking: 38 Spaces
4 AVISON YOUNG 5
PROTOTYPICAL SITE PLAN EXAMPLES
Newly Developed
Floor Plan
PARAPET TRIM. MANUFACTURES
COPYRIGHT 2007
40" TALL CHANNEL LETTERS
DARK BRONZE AND STRIPES
HARDIE TRIM BOARDS HARDIE TRIM FRAMES PT
LIMONITE AVE. 27'-0"
PT. SW6088, NUTHATCH SW6088 WITH SW6086
ACCENT COLOR INSIDE
PARAPET TRIM.MANUFACTURES
DARK BRONZE
HARDIE TRIM BOARDS
Single Tenant Autozone
24'-0" AT CORNICE. PT. SW6088
NUTHATCH
BOARD AND BATTEN 21'-0"
R
SIDING. PT. SW6091
RELIABLE WHITE
12'-2"
11'-0"
1234 STUCCO FINISH. PT
WALL PAK SW6091 RELIABLE
LIGHTING WHITE
2'-6" 2'-6"
0'-0" 0'-0"
ALUMINUM STOREFRONT SPLIT FACE CMU
METAL AWNING. FIXED BARN DOOR PROJECTED TRIM, HARDIE
SYSTEM BRONZE FINISH BLOCK SW6088,
UNA-CLAD SILVER STYLE SHUTTERS. TRIM PT. SW6088, NUTHATCH
NUTHATCH
1 FRONT ELEVATION - NORTH METALLIC. FRAME
SW6083 SABLE
PT. SW6088
Scale: 1/8"=1'-0" 0 4' 8' 16'
BUILDING FLOOR PLAN/ROOF PLAN
PARAPET TRIM. MANUFACTURES 40" TALL CHANNEL LETTERS
DARK BRONZE AND STRIPES
STUCCO FINISH HARDIE TRIM BOARDS
©
SW6091 RELIABLE WHITE HARDIE TRIM FRAMES PT STUCCO FINISH PT. SW6088, NUTHATCH
PARAPET TRIM.MANUFACTURES
92509
SW6088 WITH SW6086 SW6091 RELIABLE WHITE 27'-0"
HARDIE TRIM BOARDS DARK BRONZE ACCENT COLOR INSIDE
AT CORNICE. PT. SW6088 ROUGH SAWN 2x12's
24'-0"
NUTHATCH @ 24" O.C. PT SW6083
LIMONITE AVE & COREY STREET
PROJECT TEAM
BOARD AND BATTEN
21'-0"
SIDING. PT. SW6091
RELIABLE WHITE
CA
AutoZone Store No. 3620
12'-2"
11'-0"
10'-0"
WALL PAK LIGHTING
JURUPA VALLEY
HARDIE TRIM BOARDS
4'-0" PT. SW6091
2'-6"
0'-0" 0'-0"
WALL PAK ROUGH SAWN POSTS METAL AWNING. BOARD AND BATTEN ALUMINUM STOREFRONT
DATA SUMMARY
PROJECTED TRIM, PT. MAN DOORS AND SPLIT FACE CMU STONE VENEER
LIGHTING AND BRACES. UNA-CLAD SILVER SIDING. PT. SW6091 SYSTEM BRONZE FINISH.
HARDIE TRIM PT. FRAMES SW6088 BLOCK SW6088, POST WRAPS
PT.SW6083 SABLE METALLIC. FRAME RELIABLE WHITE DOORS CLEAR ANODIZED
SW6088, NUTHATCH NUTHATCH
PT SW6083 SABLE
COREY ST.
2 LEFT ELEVATION - EAST
New Developments Scale: 1/8"=1'-0" 0 4' 8' 16'
PARAPET TRIM.MANUFACTURES
DARK BRONZE
TRIM AND FINISH TO WRAP
AROUND REAR OF PARAPET
DOWN TO 21'-0"
STUCCO FINISH
SW6091 RELIABLE WHITE
HARDIE TRIM BOARDS
AT CORNICE. PT. SW6088
NUTHATCH
21'-0"
WALL PAK
» Stores typically range from 6,500 to
LIGHTING
8,000 SF
10'-0"
ROUGH SAWN 2x12's
PRELIMINARY
@ 24" O.C. PT. SW6083
» Lease spaces must include an
2'-6" SABLE
SITE PLAN
0'-0" 0'-0"
abundance of uncongested,
ROUGH SAWN POSTS
AND BEAM. PAINT
SPLIT FACE CMU PT. MAN DOORS AND PROJECTED TRIM, RED PLASTIC
3 REAR ELEVATION - SOUTH BLOCK SW6088, FRAMES SW6088 HARDIE TRIM PT. BOLLARD COVERS
ROLL UP DELIVERY DOOR
FACTORY GRAY FINISH. PT.
SW6083 SABLE
0 4' 8' 16' NUTHATCH SW6088, NUTHATCH ANGLES SW6088
Scale:
customer-friendly parking spaces
1/8"=1'-0"
TRIM AND FINISH TO WRAP PARAPET TRIM.MANUFACTURES STUCCO FINISH
AROUND REAR OF PARAPET DARK BRONZE SW6091 RELIABLE WHITE
DOWN TO 21'-0"
HARDIE TRIM BOARDS HVAC UNITS SCREENED
» Require upfront, high-impact
AT CORNICE. PT. SW6088 BY PARAPETS (TYP)
21'-0" NUTHATCH 21'-8"
locations with excellent visibility and
03/15/21
7N2-R
PARKING
access fromSUMMARY
adjacent streets
PS1
11'-0"
» Land parcels for new construction 2'-6"
0'-0"
must accommodate between 25 and FIXED BARN DOOR SPLIT FACE CMU BLOCK PROJECTED TRIM, HARDIE TRIM
4 RIGHT ELEVATION - WEST
50 parking spaces
STYLE SHUTTERS. SW6088, NUTHATCH PT. SW6088, NUTHATCH
PT. SW6088
Scale: 1/8"=1'-0" 0 4' 8' 16'
NE 3620
ALLEY, CA
6 AUTOZONE | JURUPA VALLEY, CALIFORNIA 7
ED FOR
Tenant Profile
AutoZone is the leading retailer and a leading distributor of automotive replacement parts and
accessories in the U.S. They sell auto and light truck parts, chemicals and accessories through
AutoZone stores in 50 U.S. states plus the District of Columbia, Puerto Rico, Mexico and Brazil.
We also sell automotive diagnostic and repair software through ALLDATA, diagnostic and
repair information through alldatadiy.com, and auto and light truck parts and accessories
through AutoZone.com
LEASE ABSTRACT
SWC of Limonite Avenue & Corey Street
Address Jurupa Valley, California
Parcel Size ±53,143 SF (1.22 AC)
Lease Commencement March 1, 2022
Lease Expiration February 28, 2037
Original Lease Term 15 Years
Net Operating Income (2022) $6,667.00/month or $80,004/year
Years 11 - 15
Next Increase $84,000
Options to Extend Four (4) of 5 Years
Fixed
1st Option $88,200/year
Option Rental Increase 2nd Option $92,610/year
3rd Option $97,240.50/year
4th Option $102,102.60/year
Taxes, Insurance, Maintenance, Utilities, Roof, -0.11
Tenant Pays Wall, Structure & Parking Lot (-0.11%)
Lease Type Fee Simple Ground Lease
Guarantor Corporate - NYSE: AZO
First Right of Refusal No
Landlord Expense None
*photo is not of actual property but similar Autozone
*Seller will credit buyer from the close of escrow until commencement of rent by Auto Zone, the
monthly rent and NNN charges. The property has been turned over to Auto Zone to commence
construction.
8 AVISON YOUNG AUTOZONE | JURUPA VALLEY, CALIFORNIA 9
Area Overview
SUBJECT PROPERTY
Jurupa Valley, California
The City of Jurupa Valley today is a mix of high and low-density residential development, rural
farming and other agricultural activities, and a mix of commercial retail and industrial activity.
Two primary transportation corridors traverse the Jurupa Valley area, Interstate 15 which runs
north and south, and State Highway 60, which runs east and west. It has been in recent years that
residential development and economic activity has increased, in particular in the areas adjacent
to the I-15 and Highway 60. The pro-growth city has significant capacity for expansion of both
residential and commercial development activity in the future.
Development Pipeline for Jurupa Valley
1. 397 market rate multi-family housing units by Bridge Development in the south west portion of the
LEGEND
city, south of the Vernola Marketplace Shopping Center. Constuction expected to be completed
over the the next 24 months.
2. 600 single family detached homes on Limonite Avenue (on the site of a former golf course) Richmond
American Home is building Phase I of 107 single family homes. Expected completion 24 months SUBJECT PROPERTY
3. 400 single family homes are under construction by Lennar Homes in the Shadow Rock master
planned community area of the city. Expected completion in phases over the next 24 months.
4. CT Realty Partners is under construction of 4.2 million SF of industrial in the Ribidoux area of Jurupa
Valley on the former Riverside Cement Plant.
LIMONITE AVE.
(Source: https://www.jurupavalley.com/)
10 AVISON YOUNG AUTOZONE | JURUPA VALLEY, CALIFORNIA 11
*photo is not of actual property but
similar Autozone
Confidential and all expressions of interest or offers regarding
the Property and/or to terminate discussions with
information &
any entity at any time, with or without notice. This
offering is made subject to omissions, correction of
errors, change of price or other terms, prior sale or
disclaimer withdrawal from the market without notice. Agent
is not authorized to make any representations or
agreements on behalf of Seller. Seller shall have no
legal commitment or obligation to any interested
party reviewing the enclosed materials, performing
Avison Young (“Agent”) has been engaged by additional investigation and/or making an offer to
Ownership (“Seller”) as the exclusive agent for the purchase the Property unless and until a binding
sale of (the Property”). written agreement for the purchase of the Property
The Property is being offered for sale in an “as-is, has been fully executed, delivered, and approved
where-is” condition and Seller and Agent make no by owner and any conditions to owner’s obligations
representations or warranties as to the accuracy there under have been satisfied or waived.
of the information contained in this Offering By taking possession of an reviewing the
Memorandum. The enclosed materials include information contained herein, the recipient agrees
highly confidential information and are being that (a) the enclosed materials and their contents
furnished solely for the purpose of review by are of a highly confidential nature and will be held
prospective purchasers of the interest described and treated in a strictest confidence and shall be
herein. Neither the enclosed materials nor any returned to Agent or Seller promptly upon request;
information contained herein is to be used for and (b) the recipient shall not contact employees
any other purpose or made available to any other or tenants of the Property directly or indirectly
person without the express written consent of regarding any aspect of the enclosed materials or
the Seller. Each recipient, as a prerequisite to the Property without the prior written approval
receiving the enclosed, should be registered with of the Seller or Agent; and (c) no portion of the
Avison Young as a “Registered Potential Investor” enclosed materials may be copied or otherwise
or as “Buyer’s Agent” for an identified “Registered reproduced without the prior written authorization
Potential Investor”. The use of this Offering of Seller or Agent or as otherwise provided in the
Memorandum and the information provided herein Confidentiality and/or Registration Agreement
is subject to the terms, provisions and limitations executed and delivered by the recipient(s) to
of the confidentiality agreement furnished by Agent Avison Young. Seller will be responsible for any
prior to delivery of this Offering Memorandum. commission due to Agent in Connection with the
The enclosed materials are being provided solely sale of the Property. Each prospective purchaser
to facilitate the prospective investor’s own due will be responsible for any claims for commissions
diligence, for which it shall be fully and solely by any other broker or agent in connection with a
responsible. The material contained herein is based sale of the Property if such claims arise from acts
on information and sources deemed to be reliable, of such prospective purchaser or its broker/agent’s
but no representation or warranty, express or authority to act on its behalf.
implied, is being made by Agent or Seller or any of
their respective representatives, affiliates, officers, The information contained herein was obtained
employees, shareholders, partners and directors, as from sources believed reliable; however, Avison
to the accuracy or completeness of the information Young makes no guarantees, warranties or
contained herein. Summaries contained herein any representations as to the completeness or accuracy
legal or other documents are not intended to be thereof. The presentation of this property is
comprehensive statements of the terms of such submitted subject to errors, omissions, change
documents, but rather only outlines of some of of price or conditions, prior to sale or lease, or
the principal provisions contained therein. Neither withdrawal without notice.
the Agent nor the Seller shall have any liability
whatsoever for the accuracy or completeness of the
information contained herein or any other written
or oral communication or information transmitted
or made available or any action taken or decision
made by the recipient with respect to the
Property. Interested parties are to make their own
investigations, projections and conclusions without
reliance upon the material contained herein.
Seller reserves the right, at its sole and absolute
discretion, to withdraw the Property from being
marketed for sale at any time and for any reason.
Seller and Agent each expressly reserves the right
at their sole and absolute discretion, to reject any
12 AVISON YOUNG 12 AUTOZONE | JURUPA VALLEY, CALIFORNIA 13
If you would like more information on this offering please get in touch. Chris Maling Principal Lic. 01025809 213 618 3824 chris.maling@avisonyoung.com David Maling Principal Lic. 01139115 213 618 3825 david.maling@avisonyoung.com Visit us online avisonyoung.com © 2021 Avison Young - Southern California, Ltd. All rights reserved. E. & O.E.: The information contained herein was obtained from sources which we deem reliable and, while thought to be correct, is not guaranteed by Avison Young. 555 S Flower Street, Suite 3200 | Los Angeles, CA 90071 | 213 935 7430
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