330 Bellam Blvd
San Rafael, CA 94901
Mi Pueblo Food Center · Retail Property For Sale

Marcus & Millichap has been selected to exclusively market for sale the Mi Pueblo Food Center, a freestanding 35,931 - square-foot single tenant NNN leased grocery store that was renovated for the tenant in 2009. This high quality single tenant grocery store is located in San Rafael, California, seventeen miles north of San Francisco. The asset provides an opportunity for an investor to procure a long-term NNN leased single tenant corporate guaranteed asset with annual rent increases. Conveniently located directly south of a densely populated Multi-Family neighborhood and the two major freeways in and out of San Rafael, the Mi Pueblo Food Center is the premiere grocer in the area. Mi Pueblo Food Center and Cardenas Markets are owned by New York based KKR Global Investments and Chicago based Victory Park Capital. KKR Global Investments purchase (Q42016) into Mi Pueblo and Cardenas provides additional capital for numerous upgrades and store remodels to existing locations and allows Cardenas to expand into communities that are currently under served. The company is committed to expanding it’s presence on the West Coast with plans to open 7 new Cardenas “model” stores each year and the 2017 acquisition of Los Altos Ranch Markets (7 stores) in the Phoenix area. There are plans to remodel 7 stores a year, starting with Santa Rosa, San Jose, Salinas and Modesto in 2018. There are currently 53 stores throughout California, Nevada and Arizona employing approximately 3,000 individuals. Since 2009, Mi Pueblo has been open in San Rafael and serving the immediate and regional population from Petaluma to the Golden Gate Bridge. The property’s irreplaceable location is a block and a half from Interstate 580, which directly connects Marin County with the East Bay and Highway 101, the major North/South corridor allowing easy access throughout Marin. The subject property provides fifteen parking spaces (through a “parking” easement agreement) to the Marin Health and Wellness Campus. This extremely busy 6 building 82,000+ square-foot campus is home to the Department of Health and Human Services (HHS) and Marin Community Clinics. The HHS provides a wide range of social, mental, and community support services for families, children, older adults and individuals with disabilities; while the Marin Community Clinics provides primary care, specialty and referral health services to more than 32,000 insured and uninsured patients annually.