This Retail Property is Off-Market.

2271 Balfour Road
Brentwood, CA 94513 ·

14,739 SF · Retail For Sale

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Walgreens

Price N/A Occupancy 100%
Building Size 14,739 SF No. Stories 1
Property Type Retail Tenancy Single
Property Sub-type Retail (Other) Year Built 2007
Property Use Type Net Lease Investment with 10+ years left on lease Lot Size 1.60 SF
Cap Rate 6.50%
Listing ID: 15957589 Date Created: 10/23/2008 Last Updated: 03/26/2009

Description

Completed in July 2008, a brand-new Walgreens Drug Store of block construction and containing 14,739 square feet. There are 79 parking spaces on the subject parcel plus reciprocal parking in the rest of the shopping center. The building has a drive-through with one drive-up window. The store is part of a larger retail center which includes shops and a freestanding BAC Bank building (neither included in this offering). The theme of the project is Tuscan-style Architecture including an attractive mix of stone exteriors, tile accents on the rooflines, trellises and landscaping. Each building in the center has a multi-color integral-finish stucco exterior with distinctive storefronts for each tenant.

The lease is a 25-year NNN lease that commenced July 5, 2008. The Tenant is responsible for all taxes, insurance, utility costs and all maintenance required for the property, including roof, structure and parking lot. There are no landlord responsibilities. The lease also includes the standard Walgreens percentage rent clause. There are 10 five-year options to renew.

The property is being offered free-and-clear of financing.

The subject site is part of a larger retail center consisting of new shops and a new BAC Bank branch located at the signalized NE corner of John Muir Parkway and Balfour Rd. There are a total of approximately 147 parking spaces in the center with approximately 79 spaces on the subject parcel. This property is part of a larger 26-acre master-planned community project - zoned PD - 67. Immediately adjacent to the subject property are a 120-unit assisted living complex, a medical office building, a McDonald' s, a Chevron Gas Station and 90 homes about 1/3rd of which have been built and sold. The site is in a surrounding neighborhood with 3 separate Golf communities, a nearly 100,000 square foot John Muir Medical Center across the street with additional offices and retail across and down the street.

Brentwood is about 35 miles east of San Francisco in the East Bay Area, and serves as a suburban hub for over 45,000 people with a much larger trade area. The City has immediate expansion plans to provide for a population of over 70,000 and lies just south of the Sacramento River Delta and east of Mt. Diablo.

Highlights

  • Newly-Built Walgreens Drug Store
  • 25-Year NNN Lease
  • Across the Street from 100,000 SF John Muir Medical Center
  • Strong San Francisco Bay Area Location at Signalized Intersection

Research

2271 Balfour Road, Brentwood, CA 94513 (Contra Costa County)

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