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Planet Fitness & Institute of Technology 1755 Hilltop Dr

58,640 SF 100% Leased Retail Building Redding, CA 96002 $14,251,523 CAD ($243 CAD/SF) 7% Cap Rate

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Investment Highlights

100% Occupied | 2-Tenant Big Box | Scheduled Rent Increases | NNN Leases
Dense Retail Corridor | Strong National/Credit Tenant Presence

Excellent Visibility and Access | Quick Access to On/Off Ramp to I-5 and State Highway 44
Strong Demographics In 5-Mile Trade Area

Executive Summary

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a 2-tenant big-box, 100% occupied, Planet Fitness & Institute of Technology investment property located in Redding, California. Planet Fitness has just signed a 10-year lease with 2 (10-year) options to extend, featuring scheduled rent increases every 5 years. Institute of Technology recently executed a 5-year option with another extension option remaining. 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. Institute of Technology has been one of the primary postsecondary education in the western U.S. since 1986.