Grocery Store

Albertsons at Hillsboro Promenade

7500 E Main St, Hillsboro, OR 97123

Listing Price: $9,975,000

Cap Rate
7.19%
Tenant Name
Albertsons
Years Remaining On Lease
2.3
Gross SF
55,068
Guarantor
Corporate Guarantee
Rentable SF
55,068
Price/Gross SF
$181.14
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$13.02

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale, the Albertsons grocery store in Hillsboro, Oregon. The subject property serves as the anchor tenant for Hillsboro Promenade, a popular neighborhood shopping center located in Hillsboro, ten miles west of Portland. Part of the Silicon Forest, Hillsboro is home to several major tech companies such as Intel and IBM and is close to nearby Nike World Headquarters in neighboring, Beaverton.

Built in 1998, the subject property has a triple-net (NNN) lease with approximately four years remaining on the current 25-year term and six 5-year renewal options guaranteed by Albertsons LLC. The subject property consists of a single-level 55,068 square foot structure located on a 4.67-acre parcel within Hillsboro Promenade. It is a steel-framed building with an attractive exterior design, and is clad with split-faced concrete masonry units, EIFS, and decorative river rock stone highlights.

This store is the anchor tenant for a beautiful and impeccably maintained 90,000 square foot neighborhood shopping center that was also constructed in 1998. In addition, the supermarket and shopping center have excellent accessibility, with a signalized entry from Southwest Baseline Road and direct access off Southwest Cornelius Pass Road (over 46,000 vehicles per day). In 2016 Cornelius Pass Road completed a widening project that improved the traffic counts as a primary north-south arterial connecting the Sunset Highway (US Hwy 26) to the Southwest Tualatin Valley Highway, the two primary east-west traffic routes between Portland and the Washington County suburbs.

Investment Highlights

  • Albertsons is proving to be a tenant that is COVID-19 resistant.
  • Corporate Guarantee by Albertsons LLC
  • Nearly Four Years Remaining with Rent Increases at Renewal Options
  • Anchor Tenant for an Approximately 90,000 Square Foot Neighborhood Shopping Center
  • Excellent Accessibility, Signalized Intersection with 46,000+ VPD
  • High Growth Area, Intels New 2019 Billion Dollar Development Less than 2 Miles
  • Massive New Intel Plant Being Developed Minutes Away

Exclusively Listed By

Grocery Store

Albertsons at Hillsboro Promenade

Listing Price: $9,975,000

Cap Rate
7.19%
Tenant Name
Albertsons
Years Remaining On Lease
2.3
Gross SF
55,068
Guarantor
Corporate Guarantee
Rentable SF
55,068
Price/Gross SF
$181.14
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$13.02

Investment Highlights

  • Albertsons is proving to be a tenant that is COVID-19 resistant.
  • Corporate Guarantee by Albertsons LLC
  • Nearly Four Years Remaining with Rent Increases at Renewal Options
  • Anchor Tenant for an Approximately 90,000 Square Foot Neighborhood Shopping Center
  • Excellent Accessibility, Signalized Intersection with 46,000+ VPD
  • High Growth Area, Intels New 2019 Billion Dollar Development Less than 2 Miles
  • Massive New Intel Plant Being Developed Minutes Away

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale, the Albertsons grocery store in Hillsboro, Oregon. The subject property serves as the anchor tenant for Hillsboro Promenade, a popular neighborhood shopping center located in Hillsboro, ten miles west of Portland. Part of the Silicon Forest, Hillsboro is home to several major tech companies such as Intel and IBM and is close to nearby Nike World Headquarters in neighboring, Beaverton.

Built in 1998, the subject property has a triple-net (NNN) lease with approximately four years remaining on the current 25-year term and six 5-year renewal options guaranteed by Albertsons LLC. The subject property consists of a single-level 55,068 square foot structure located on a 4.67-acre parcel within Hillsboro Promenade. It is a steel-framed building with an attractive exterior design, and is clad with split-faced concrete masonry units, EIFS, and decorative river rock stone highlights.

This store is the anchor tenant for a beautiful and impeccably maintained 90,000 square foot neighborhood shopping center that was also constructed in 1998. In addition, the supermarket and shopping center have excellent accessibility, with a signalized entry from Southwest Baseline Road and direct access off Southwest Cornelius Pass Road (over 46,000 vehicles per day). In 2016 Cornelius Pass Road completed a widening project that improved the traffic counts as a primary north-south arterial connecting the Sunset Highway (US Hwy 26) to the Southwest Tualatin Valley Highway, the two primary east-west traffic routes between Portland and the Washington County suburbs.

Exclusively Listed By

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