Net Lease Natural Grocers For Sale Date December 6, 2016
The Boulder Group is pleased to exclusively market for sale a single tenant net lease Natural Grocers by Vitamin Cottage store located in Clive within the Des Moines metropolitan area. The property is strategically positioned at a signalized intersection along US-6 (Hickman Road) which is the primary east-west thoroughfare in the area for this infill development. Natural Grocers has over 14 years remaining on the lease which expires May 31, 2031. This triple net lease features a rental escalation in the 11th year of the primary term and each four 5-year renewal option periods.
The 15,000 square foot net lease Natural Grocers property is strategically positioned at the signalized intersection of US-6 (Hickman Road) and 86th Street which experiences traffic counts of 54,100 vehicles per day. US-6 is the primary east-west thoroughfare in the trade area. The property has full movement access points on both major arterials. The property benefits from superior visibility, two 2-tenant monument signs at both access points and monument signage at the intersection for the City of Clive along with Natural Grocer’s signage. There are over 85,000 people living within a three mile radius of the property and the average annual household income exceeds $92,000 within a five mile radius of the property.
The property features a 20’ x 40’ mural on one side, painted by local artist, Chris Vance. Chris Vance resides in Des Moines and has several commissioned works of art on public display in Des Moines and surrounding areas. This original composition is a colorful and welcome addition to the Natural Grocers store.
Clive, according to Forbes magazine when comparing home costs around the country, is the best address in the Des Moines MSA. Clive serves as the axis of the western Des Moines suburbs, being located between Urbandale, Waukee and West Des Moines along the major transportation corridors of Interstate 35, Interstate 80 and Interstate 235. The net lease Natural Grocers property is located within two mile of Interstate 235, Interstate 80 and Interstate 35 with easy interchange access.
The lease is with Vitamin Cottage Natural Food Markets, Inc., a wholly owned subsidiary of Natural Grocers by Vitamin Cottage, Inc. Natural Grocers by Vitamin Cottage is a publicly traded company on the New York Stock Exchange (Symbol: NGVC). Natural Grocers is a rapidly expanding specialty retailer of natural and organic groceries and dietary supplements providing high-quality products at affordable prices. Since 2012, Natural Grocers has seen their annual compound sales grow 24.4%.
- Publicly traded company on the New York Stock Exchange (Symbol: NGVC)
- Strong Tenant – Natural Grocers has seen annual compound sales growth of 24.4% since 2012
- Rental escalations in primary and renewal options.
- 2016 Construction
- Long term lease with approximately 14 years remaining
- Triple-Net (NNN) Corporate Lease (Structure Only)
- Positioned along two primary arterials at an intersection which experiences traffic counts of 54,100 vehicles per day
- Approximately 85,000 people living within a three mile radius of the property
- Average annual household income exceeds $92,000 within a five mile radius of the property
- Clive is the best address in the Des Moines MSA according to Forbes magazine when comparing home costs around the country