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- Corporately Guaranteed: Jiffy Lube is the largest oil-change chain in the United States, with 2,000+ franchise locations serving more than 20 million customers annually. Jiffy Lube International, Inc., the Tenant under the Lease, is a wholly-owned, indirect subsidiary of Shell Oil Company and serves as the franchisor for the Jiffy Lube brand which is 100% franchised.
- Long-Term Absolute NNN Lease: New 20 year lease with two 5-year and one 4-year options to renew—No Landlord responsibilities.
- Attractive Rent Escalations: 10% rent increases every 5 years throughout the initial term and option periods.
- New Construction: Building is currently under construction with expected delivery in September 2017.
- Strategic Location: Situated within Sierra Lakes West, a Home Depot-anchored plaza that is also occupied by AutoZone, Farmer Boys, Prestige Animal Hospital, Taco Bell, and America’s Tire. The other three corners of the immediate intersection are occupied by Ralph’s and Walgreens, the Ralph M. Lewis Sports Complex and Sierra Lakes, a master planned community with over 1,000 homes and an 18-hole championship golf course.
- Excellent Access and Visibility: Ideally located with ample access and visibility along Sierra Lakes Parkway (Traffic Count: 14,800 VPD) and Citrus Avenue, just north of Interstate 210 (111,000 VPD).
- Dominant Retail & Commercial Corridor: 3.6 MSF of retail, 23.3 MSF of industrial, and 3,103 multifamily units within a 3-mile radius. Other major retailers with a presence in the immediate vicinity include Petco, Office Max, Popeyes, LA Fitness, Wells Fargo, Costco Wholesale, Starbucks, Carl’s Jr., and Lowe’s Home Improvement, among many others.
- Hub for New Development: A number of notable developments are also ongoing in the immediate area, including the “Renaissance Rialto”, a redevelopment of 1,500 acres yielding 4.5 MSF of industrial use with additional space for residential, restaurants, retail, office, and hotels. A critical mass of new industrial facilities have also recently been constructed in the immediate area, including build-to-suits for Under Armour, Amazon, FedEx, Target and Monster Energy, to name a few.
- Infill Demographics: 3-mile population of 114,742 and average household income of $97,802.
- Market: The Inland Empire MSA (Population: 4.5 million), broadly encompasses Riverside and San Bernardino counties in Southern California. The metro area, one of the nation's premier manufacturing and distribution hubs, is also a component to the Los Angeles-Long Beach, CA CSA (Population: +18.9 million), also known as “Greater Los Angeles Area”.
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