Savon Building for Sale

Property Description:

This offering is for a SavOn drugstore at the signalized intersection of Barton Road & Mount Vernon Avenue in Grand Terrace, CA with a 30-year primary term. There is a 7.5% rental escalation in LY11 and 10% escalations every 5 years thereafter. The lease is corporate guaranteed by Albertson s, Inc., which merged with SavOn drugstores in 1999. Albertson s is a publicly traded company (NYSE: ABS), has nearly $4 billion in net assets, and is a BBB rated company (as of 9/13/05) with Standard & Poor s Credit Rating Index. Albertson s operates approximately 2,500 retail stores in 37 states, with over 700 stand-alone drugstores in their portfolio. Their network of retail locations is supported by 17 distribution centers.

Location Description:

The city was originally called The Terrace because of its higher elevation (1,065 feet), which allows for sweeping views of the Inland Empire. Grand Terrace was incorporated in 1978, and occupies an area of 3.7 square miles in the Inland Empire. Strong employment opportunities and a desirable location between San Bernardino and Riverside make Grand Terrace a convenient place to live. The town prides itself in simplicity, offering small-town living with the amenities of its more urban counterparts. Residents can take refuge from the hustle and bustle of urban life, while at the same time live just minutes away from major cities. Additionally, Grand Terrace is home to award winning schools and strong average household incomes.

Additional Types: Street Retail Cross Streets: Barton Road
Retail (Other)
Retail Pad

30 year primary term with eight (8) five (5) year options • Absolute NNN lease with fixed Rent increases

Prime growth location • Under construction with an estimated opening of January 1, 2006

Corporate guaranteed by Albertsons • Tenant paying rent while under construction

Financial Summary Proforma
Year: 2006
Scheduled Gross Income: $358,248
Total Expenses: $0
Net Operating Income: $358,225
Major Tenant Information
Tenancy Type: Single
Savon
SF Occupied: 14,000
Lease Expires: 1/1/2036