432 E Shaw Ave
Fresno, CA 93710
10 Year Corporate Sleep Number · Retail Property For Sale

The offering is a new construction Sleep Number store, featuring a 10-year corporate lease and minimal Landlord responsibilities. The Tenant is relocating from the Fashion Fair Mall across the street, where it has been operating for over 10 years. The tenant is relocating from the mall to reduce the rent and CAM charges they were paying which is one of numerous benefits to such a move. Historically, when this tenant relocates from a mall into a new free-standing store, it sees a 30%+ increase in sales given the new site characteristics of parking, signage, and frontage on the primary road, which all drive store traffic. In fact, Sleep Number ranks among the top 20 highest sales per square foot sales of all retailers in the U.S. As a result, Sleep Number had a record year in 2018 posting $1.4 billion in revenues and very healthy EBITDA of $130M. The property has huge traffic counts on Shaw Avenue (62,000 VPD), which is just off of CA-41 (130,000 VPD), and is across from the mall, which has a premier roster of 130 retailers.