This Retail Property is Off-Market.

635 W. Capitol Expressway
San Jose, CA 95136 ·

122,265 SF · Retail For Sale

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Home Depot- Ground Lease- Trophy Asset

Price N/A No. Stories 1
Building Size 122,265 SF Tenancy Single
Property Type Retail Property on Ground Lease? Yes
Property Sub-type Free Standing Bldg Year Built 1997
Property Use Type Net Lease Investment with 10+ years left on lease Lot Size 498,891 SF
Commission Split 0.5% APN / Parcel ID 462-49-004
Occupancy 100%
Listing ID: 17772046 Date Created: 07/31/2012 Last Updated: 12/20/2012

Description

This trophy offering includes a single tenant, free-standing Home Depot in the city of San Jose, CA . The Lease is corporate guaranteed by Home Depot, Inc. (NYSE: HD), a member of the Dow Jones Industrial Average (DJIA ) and the S&P 500 Index, and an American Icon in the retail world. The property consists of a 25 year absolute NNN fee simple ground lease with 22 years remaining and 6-5 year options. There are 10% rental increases every 5 years, including all option periods, with the next increase coming up in May 2014. Currently, Home Depot Inc. has a Standard & Poor' s Rating of A- and Moody' s Rated A3. Today, The Home Depot® is the world' s largest home improvement specialty retailer, with more than 2,253 retail stores in the United States (including Puerto Rico and the U.S. Virgin Islands), Canada, Mexico and China. The Home Depot is the fastest growing retailer in U.S. history with a market cap exceeding $80B and revenues topping $70B annually (up 3.5% from 2011). HD is the 4th largest retailer in the Nation while also the 5th largest in the world. They are Ranked #35 on the Fortune 500 List for 2012 America' s Biggest Companies and #144 on the Forbes Global 2000 List.

The property is located along busy Capitol Expressway in the heart of San Jose. As of today, San Jose is the 3rd largest city in California and the 10th largest in the U.S., located at the southern end of San Francisco Bay. It is also the largest city within Silicon Valley, which is a major component of the greater San Francisco Bay Area, a region of 7.6 million people and the sixth largest metropolitan area in the United States. As the most populous city in Northern California, San Jose' s location within the booming local technology industry earned the city its nickname, Capital of Silicon Valley. San Jose now maintains world-famous status and is the largest city in the San Francisco Bay Area in terms of population, land area & industrial development. Home Depot is strategically located within dense residential communities, surrounded by new multi-family and condo development with little vacancy in this growing region of the country.

Highlights

  • Trophy Asset - Irreplaceable Location in San Jose The Capitol of Silicon Valley
  • Long Term 25 Yr. Absolute NNN Ground Lease 22 Yrs Remaining with 6-5 Yr Options
  • Significant Underlying Land Value (Multi-Family - APD Zoning)
  • Strong Corporate Guarantee by Home Depot Inc. (NYSE: HD) - S&P Rated A-, Moody' s Rated A3
  • 10% Rental Increases Every 5 Years - Next Rental Increase May 2014
  • Projected Yield Significantly Above Home Depot Bonds

Research

635 W. Capitol Expressway, San Jose, CA 95136 (Santa Clara County)

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