NNN Lease to Petco Animal Supplies for +3 years left on base term
March 14, 2005 to March 31, 2019, at a current net base rate of $423,423.
Petco recently exercised their first option early at an NOI of $374,000 while
still having (3) five-year options after 2024. This leaves +8 years left on intial term.
Toys R Us originally occupied this space with one of their Kids R Us locations. When they decided to close the store they sold it off and created a pre-paid ground lease to make the transaction easier. There no payments due for
the ground lease. Right of First refusal to buys adjacent Toys R US is included in the sale.