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NNN Lease - Credit Tenant - Kearny Mesa, California
4775 Viewridge
San Diego, California |
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Investment Summary
| Offering Price: |
$3,971,792 |
| Year 1 Cap Rate: |
6.25% |
| Occupancy: |
100% |
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Investment Highlights
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100% NNN leased to Anixter International Inc. (NYSE: AXE). Anixter International Inc. is a Fortune 500 Company with a $2.32B Market Cap, $6.4B in 2014 Annual Revenue and an S&P rating of BB.
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Anixter has been in the building since 1995.
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In-place rent is currently 19% below market which provides for future upside when the lease expires.
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Kearny Mesa has one of the lowest vacancy rates in San Diego at 5.9% for R&D/Flex properties. Kearny Mesa historically achieves lower vacancy compared to competing submarkets. In Q1 2015, Kearny Mesa had the highest net absorption in Central San Diego of 165,222 SF and the second highest in the San Diego County.
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FOR MORE
INFORMATION
PLEASE CONTACT:
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