Hanford Mall Center 1673 W Lacey Blvd 85,500 SF 83% Leased Retail Building Hanford, CA 93230 $13,792,794 CAD ($161.32 CAD/SF) 9.37% Cap Rate

The Snyder Carlton National Net Lease Team is pleased to offer investors the excellent opportunity to acquire a multi-tenant retail asset in Hanford, CA. The 79,224 SF former department store has been redeveloped to accommodate four tenants which currently include Boot Barn, Serrano’s Furniture and Urban Air Trampoline Park. 14,289 SF is currently vacant with potential to increase cashflows and further diversify the tenant base. In addition to the main tenants, additional revenue is generated through a solar lease and clothing donation drop box.
Boot Barn (net) has four 5-year option periods with 10% rent increases every option period while Serrano’s furniture (gross) and Urban Air (net) have two 5-year options periods. Serano’s Furniture and Urban Air are both subject to annual rent increases (3% and 2%, respectively) during their primary terms and option periods. The 6.4-acre parcel is located on the hard corner signalized intersection of W Lacey Blvd and 12th Ave, which has a combined traffic count exceeding 42,700 VPD, is adjacent to CA 198 (over 38,000 VPD) and is positioned within King County’s busiest retail corridor. The subject property is opposite Marketplace at Hanford and Centennial Plaza and is surrounded by countless national retailers providing irreplaceable retail synergy. Nearby retailers include Target, Walmart Supercenter, The Home Depot, Lowe’s Home Improvement, Hobby Lobby, ALDI, McDonald’s, Raising Cane’s, In-N-Out Burger, Panera Bread, Chipotle, Starbucks, Dutch Bros Coffee and more.