1919 E 20th St
Chico, CA 95928
Hobby Lobby: Chico, CA · Retail Property For Sale

Premier Tenant: Based in Oklahoma City, Oklahoma, Hobby Lobby Stores, Inc. is the largest privately-owned arts-and-crafts retailer in the world with more than 850 stores operating in 46 states. The company provides broad mix of products, including arts and crafts supplies, fashion fabrics, baskets, silk flowers, needlework, wearable art, picture framing, cards, party supplies and furniture. Its product portfolio covers more than 70,000 items under the store channel. Net Lease: Hobby Lobby’s net lease is expected to commence on September 23, 2019 and will feature ±10 years of primary term with three 5-year renewal options. Below Replacement Cost: This offering is an excellent opportunity to acquire a highly-desirable retail box at a price that is significantly below the replacement cost of $248/SF. Developable Pad Upside Opportunity: The parcel includes excess land that can be redeveloped in order to create additional upside. Hobby Lobby consented to the development in the lease which will significantly streamline the process. Excellent Access & Visibility: This site has excellent access and visibility along East 20th Street (Traffic Count: 18,000 VPD) and is just feet from the on-ramp to US-99 (Traffic Count: 79,800 VPD) which runs from Blaine, Washington all the way to Calexico, California.