Overview
High-Traffic Chase Bank Investment Property
This property benefits from over 24 years of historical occupancy with multiple lease extensions, demonstrating a strong commitment to the location. The absolute net lease property sees annual deposits at the location exceeding $371 million and trending upward. Positioned along the area's major retail and traffic corridor, the property features easy access and excellent visibility with daily combined traffic counts exceeding 35,000 vehicles. It also has immediate access to and from Interstate-5, which sees over 70,000 vehicles per day. The location is surrounded by numerous national retailers, including Walmart Supercenter, Target, The Home Depot, Hobby Lobby, BevMo!, PetSmart, T.J. Maxx, Michaels, World Market, Best Buy, Trader Joe's, and WinCo Foods. The area is experiencing major growth, located in a rapidly growing community with robust demographics. More than 400,000 square feet of new retail development is planned within the immediate area. The property is located in a densely populated and affluent area, featuring an average household income of more than $84,000 and over 98,000 people residing within a 5-mile radius. It is within Mt. Shasta Mall, a popular shopping destination featuring more than 80 stores and one of only four malls serving California north of Sacramento. The mall comprises the largest gathering of retailers within a 400-mile stretch of Interstate 5. The property is located minutes from a proposed new casino, hotel, and convention center, with plans that include a 69,000 square foot casino with 1,200 slot machines and 36 game tables, a 250-room hotel, an 1,800-seat event center, and a 1,500-seat outdoor amphitheater. The property size is 6,195 square feet.
