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|Current / Passing Rent||
|Remaining Term||14 years, 8 months|
|Tenant||Albertsons Companies, Incorporated|
JLL is pleased to exclusively present an outstanding opportunity to purchase a recently leased 48,239 square foot Albertsons. It is one of the largest food and drug retailers in the U.S. The property is located in the northeast corner of Oregon in Baker City and benefits from its proximity to Interstate 84 and the Union Pacific Railroad mainline. Many national brand retailers, such as US Bank, McDonald’s, Pizza Hut, Shell Gas and Best Western are in close proximity to this location.
Albertsons is the 3rd largest Private Company (Forbes) and the 2nd largest Supermarket Chain in the nation. The entity on the lease is Safeway, Inc., a wholly owned subsidiary of Albertsons Companies, Inc. Most recent grocery lease comparable In Baker City was $18.61 per square foot annually compared to the subject lease rate of $7.85 per square foot.
- Fee simple interest
- With $60.5 billion in revenue and over 2,200 locations
- Absolute NNN lease, offering true passive ownership and no landlord responsibilities
- Remaining lease term of 15+ years. with 2% annual rental increases
- Rent is well below market