18999 Bear Valley Rd
Apple Valley, CA 92308
Absolute NNN Corporate Lease · Retail Property For Sale

- Corporate lease by Red Robin International, Inc.; Red Robin Gourmet Burger, Inc. (NASDAQ: PRGB) is a casual dining restaurant chain that operates through its wholly owned subsidiary, Red Robin International, Inc. under the trade name Red Robin Gourmet Burgers and Brews. As of December 2016, it operated 551 Red Robin restaurants in 44 states and two Canadian provinces. - Absolute NNN ground lease, No landlord responsibilities. - Irreplaceable location; located at the entrance to the Jess Ranch Marketplace, dominant power center in the region anchored by Cinemark, Target, WinCo Foods, Best Buy, Bed Bath & Beyond, PetSmart, 99 Cent Only Stores, Burlington Coat Factory, Kirkland’s, Dress Barn, Big 5 Sporting Goods, Staples, etc. - Tenant improved interior and exterior in 2015; shows tenant’s strong commitment to this location. - Lease Term: 1/8/2009 ~ 1/31/2024 + 3 x 5 Years Option to Renew - Rent Increase: 10% every five years - Feb 2019 NOI: $ 175,450 - Feb 2019 CAP: 4.75% - Pricing is based off Feb 2019 rent increase. Seller will credit Buyer the difference in rent between the closing date & rent increase date.