Newport Beach, Calif. (February 10, 2020) –SRS Real Estate Partners’ National Net Lease Group is pleased to announce that Senior Vice President Michael Walseth has been selected to market for sale the ground lease (land ownership) of a single-tenant retail property occupied by Home Depot Superstore. Located at 1095 Pullman Street in Anaheim, the 178,660-square-foot building, plus a 46,750-sf garden center, i/s situated on 18.01 acres of land and includes 923 parking spaces. With an asking price set at $60,677,000 and a cap rate of 4 percent, the rare offering features Home Depot’s largest store on the West Coast and its second largest nationally.
“This is quite possibly the nation’s highest profile, single-tenant offering currently on the market,” said Walseth. “With an irreplaceable, affluent Orange County location; no landlord responsibilities; corporate-guaranteed credit lease; and substantial building and site size; it features all the fundamentals institutional-grade investors are seeking in a STNL asset.”
Built in 1995 and renovated in 2012 when Home Depot opened its doors, the absolute triple-net leased property is corporate-guaranteed by Home Depot U.S.A., Inc. There are six years remaining on its lease with options to extend. The site is strategically located along the 91 freeway which sees 279,000 vehicles per day. It is just off Yorba Linda Boulevard, a major thoroughfare connecting several Orange County suburbs.
The property is located within the Savi Ranch retail corridor and is positioned near the Anaheim Hills Festival Shopping Center which is anchored by Target, Edwards Cinemas and Hobby Lobby. Other nearby national/credit tenants include Costco, Sprouts Farmers Market, Best Buy, T.J. Maxx, and Michael’s, among others. Additionally, within a five-mile radius, there is a population of more than 146,000 residents and 49,000 employees.
SRS’ National Net Lease Group, with more than $1.5 billion in assets currently listed for sale, successfully completed more than 400 transactions in 2019, across 35 states nationwide.
About SRS Real Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 25 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services, and investment services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit www.srsre.com.
SRS’ National Net Lease Group (NNLG) is a unified platform of seasoned net lease professionals located and transacting nationally with all underwriting and marketing efforts strategically located in Southern California. In 2019, the group completed more than 400 sales across more than 35 states and has over 50 NNLG professionals nationally. From proactive sales to targeted acquisitions and tailored debt and equity solutions, SRS’ National Net Lease Group offers comprehensive services to net lease owners and investors. Superior speed-to-market, world-class marketing materials, a deep investor database and unparalleled retail submarket intelligence from the entire SRS platform allow SRS’ National Net Lease Group to deliver the best possible returns. For more information, please visit srsnnlg.com.