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Santa Rosa, CA - Planet Fitness & Total Wine
2705 Santa Rosa Ave | Santa Rosa, CA 95407
Description
SRS Investment Properties Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a newly-remodeled, 2-tenant, 100% occupied, NNN leased Planet Fitness & Total Wine investment opportunity located in Santa Rosa, California. Planet Fitness & Total Wine both recently signed brand new leases with approximately 10 years of firm term remaining, demonstrating their commitment to the site. Additionally, both leases feature rental increases throughout initial term and option periods, growing NOI and hedging against inflation. Both tenants operate under NNN leases, limiting expense leakage for a future investor. Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States with over 2,250 locations. Total Wine the country’s largest independent retailer of fine wine, operating 263 superstores across 28 states.
Location
The subject property is strategically located near the signalized, hard-corner intersection of Santa Rosa Ave. and Yolanda Ave., averaging a combined 44,900 vehicles passing by daily. The site benefits from nearby direct on/off ramp access to U.S. Highway 101/Redwood Hwy., a major thoroughfare serving the region averaging 157,300 vehicles per day. Furthermore, the property is ideally situated in the heart of a dense, regional retail corridor, with numerous nearby shopping centers including the Santa Rosa Marketplace (541,186 SF) and Santa Rosa Town Center (169,000 SF). Nearby national/credit tenants include Target, Costco Wholesale, Ross Dress for Less, Trader Joe’s, Smart & Final, Marshall’s, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by more than 202,000 residents and 90,900 employees, providing a direct consumer base from which to draw. Residents within 5 miles of the subject property boast an affluent six-figure average household income of $121,019. As the largest city between San Francisco and Portland, Santa Rosa is a regional hub for technology, entrepreneurship, and retail, with numerous nearby tourist attractions.
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215