OFFERING PRICE:
$6,763,000 

CAP RATE (YEAR 1):
5.00%

TOTAL BUILDING AREA:
±6,989 SF

 
FEATURED LISTING:
THE HABIT & SHOPS
at Towngate Promenade 
12590 Day Street, Moreno Valley, CA
INVESTMENT HIGHLIGHTS
 
• Corporate Guaranteed NNN Leases – 100% NNN leased to national and credit tenants including The Habit Burger, Café Rio, and Red Wing Shoes
 
» The Habit Burger Grill (Nasdaq: HABT) has a market cap exceeding $264 million, revenue of $331 million, and operates over 240 restaurants across the United States, China, and the United Arab Emirates
 
» Red Wing Shoes is the global leader in work, safety and lifestyle footwear distributing across 110 countries through its over 500 stores 
 
» Café Rio is a growing, privately held, fast casual restaurant chain specializing in “farm to table” Mexican cuisine, with over 120 locations in 12 states
 
• New Long-Term Leases – All of the leases commenced within the past 18 months, and 80% of the GLA features lease terms with more than 8 years remaining
 
• Regional Retail Location – The Habit & Shops is at the center of Moreno Valley’s vibrant growing retail core that includes national tenants such as: Costco, Walmart Supercenter, Target, WinCo Foods, 99 Cents Only Store, Best Buy, Lowe’s Home Improvement, Macy’s, Regency Theatres, Ross Dress for Less, Home Depot, 24 Hour Fitness, Bev Mo, Home Goods, Dollar Tree, Party City, Staples, Marshalls, Petco, Old Navy and many others comprising nearly 4,400,000 SF of high quality retail within a 1-mile radius of the property, creating a strong regional draw and generating high traffic to this trade area 
 
• Direct Freeway Access – The property benefits from immediate access to the 60 (Moreno Valley) Freeway (over ±111,600 cars per day) and Interstate 215 (±164,500 cars per day), two major Southern California freeways
 
• Brand New Construction – The Habit Burger and Shops building is newly constructed with no deferred maintenance, eliminating any near-term capital requirements that can drain cash flow


CLICK HERE TO DOWNLOAD OFFERING MEMORANDUM

 
FOR MORE
INFORMATION
PLEASE CONTACT:
 
KIRK BRUMMER
+1 949 725 8418
Lic. 01218518
kirk.brummer@cbre.com 		TRENT STEEVES
+1 949 725 8563
Lic. 01950466
trent.steeves@cbre.com 		PHILIP D. VOORHEES
+1 949 725 8521
Lic. 01252096
phil.voorhees@cbre.com
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