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10/19/16
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We thought we’d share news of a newly-constructed, two-tenant retail building in the city of Oxnard that was just listed for sale. The property, located at the signalized intersection of Vineyard Ave and Riverpark Blvd, is occupied by WSS (Warehouse Shoe Sale) and Krispy Kreme Doughnuts. The listed price is $10.337 mil, representing a cap rate of 5.0 percent.
WSS has a brand new 10-year lease guaranteed by corporate with a 10% rental increase in the sixth year and four five-year options with increases. WSS has over 75 locations and is one of the fastest growing shoe retailers in the U.S.
Krispy Kreme Doughnuts has a new 15-year lease guaranteed by the exclusive franchisee and area developer for Krispy Kreme in Southern California. The absolute triple-net lease has no landlord responsibilities and includes 10 percent rental increases every five years and three five-year options with increases.
The 17.4k sf retail building sits on 1.52 acres at 210-220 Riverpark Blvd, at the southwest corner of Riverpark Blvd and Vineyard Ave. Ed Hanley, Eric Wohl and Jeremy McChesney with Hanley Investment Group are marketing the retail triple-net absolute property for sale.
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