Investment Overview

The subject property houses a Black Rock Coffee store owned and operated by Black Rock’s corporate group. The subject lease is structured as a ground lease, with landlord responsibilities limited to only a small insurance premium which is in addition to the tenant’s insurance requirement. The lease extends through December of 2028, and features five percent rental increases every five years including option periods. Black Rock is prominently positioned on Highway 99W, a robust retail corridor that extends southwest from Portland through Tigard, Sherwood, Newberg, McMinnville, and ultimately Corvallis and Eugene. This portion of the highway is an essential thoroughfare for commuters working near the city center, and boasts over 40,000 vehicles per day. Black Rock’s location is further amplified by King City Plaza and Tigard Promenade, major retail centers that boast national tenant profiles including Safeway, Grocery Outlet, Petco, US Bank, Carl's Jr., Les Schwab, and more.