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Sprouts Farmers Market 3535 Panama Ln

23,313 SF 4-Star Retail Building Bakersfield, CA 93313 $21,191,224 CAD ($909 CAD/SF) 5.25% Cap Rate

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INVESTMENT HIGHLIGHTS

Corporate NNN lease with Sprouts Farmers Market (NASDAQ: SFM) - a national chain organic grocery with more than 420 stores and $6.8B revenue (2023)
As a build-to-suit with fee-simple ownership, investors can benefit from new construction and depreciation tax benefits to enhance post-tax cash flow
Sprouts' CAM contribution is fixed for the 1st year with 3% annual increases. Current CAM expenses are lower than CAM income, creating additional NOI

New 15-year lease eliminates landlord leasing & capital expenses, creating a secure cash flow. Scheduled 10% rent increasses every 5 years
Sprouts is part of Bakersfield Crossings Center, which includes Walgreens, T-Mobile, Carl’s Jr., AutoZone, Wells Fargo, fitness, dining and more.