11608 Amargosa Rd
Victorville, CA 92392
Habit Burger Ground Lease · Land For Sale · 0.71 AC

Marcus and Millichap has been selected to exclusively represent the sale of Restaurant Row in Victorville, California, a portfolio of category leading national and regional restaurants. The subject property is a brand new 3,400 square foot corporate Habit Burger Grill restaurant with drive through. The investment offering is a 20 year corporate guaranty ground lease with 10% rent increases every 5 years. The Habit Restaurants, Inc. is a publicly traded company (NASDAQ:HABT) with over 200 locations in 10 states and the United Arab Emirates. The real estate is well positioned in the trade located adjacent to the I-15 Freeway and Bear Valley Road on and off ramps. Fronting both Amargosa Road and the I-15 freeway the property has excellent identity and traffic exposure. Traffic counts exceed 98,000 cars per day on the I-15 and 52,000 cars at Bear Valley and I-15. The location is prime in the trade area as evidenced by the new development that includes a new 75 room Wyndham Hotel and resort, Super Walmart, Kohl’s and Home Goods, TJ Max, 24 Hour Fitness currently under construction at the site. Additionally, a proposed 128 bed trauma center, medical office building, physician village, day care, spiritual care development with a hotel has been approved with all entitlements. This project is comprised of 98 acres along Amargosa Road between Bear Valley and Main Street just 2.8 miles from the subject property. The project part is of the St. Joseph / St. Mary Healthcare system. Restaurant Row is a synergistic mix of restaurants consisting of Starbucks Coffee, Nekter Juice Bar, Which Wich Sandwiches, Pieology Pizza, Ono Hawaiian Barbeque, Café Rio Mexican Grill, Habit Burger and Bj’s Pizza. Access points and drive aisles provide excellent ingress and egress from the Wyndham, Walmart and Kohl’s for easy access to all of the restaurants. 76% of the leasable area (4 of 6 tenants) have corporate signature absolute net leases. The remaining two tenants are strong franchisees with excellent operational histories and personal rent guarantees. The investment provides annual rent growth with increasing cash flow and yield, protecting against inflation with a diversified base of strong restaurant tenants. The Victor Valley includes the communities of Adelanto, Apple Valley, Hesperia, Lucerne Valley, Oak Hills, Phelan, Victorville and Wrightwood. Victorville is the business hub of the area and draws consumers from well beyond its immediate area. It is the largest commercial center between San Bernardino and the Nevada border. The city of Victorville is home to a large and diverse pool of workers and is home to 34 universities, colleges and technical schools providing an abundant supply of skilled labor. Victorville has experienced tremendous growth over the last decade with the population increasing over 117% since 2000. The population continues to grow with projections of additional 20% growth over the next five years. Current population is 133,790 people in a 5 mile radius with an average household income of $76,267 within 1 mile of the property.