Commercial Brokers

Property for Sale or Lease

PRICED TO SELL | LONG-TERM NNN INDUSTRIAL | ±24,000 SF | SAN FRANCISCO BAY AREA
8.75% - $7,405,714 - SKYHIGH SPORTS, 1631 Challenge Drive, Concord, CA 94520
A rare high-cap San Francisco Bay Area NNN opportunity for investors with quick-close capabilities, driven by the Seller’s immediate 1031 exchange opportunity. This offering provides a highly desirable long-term cash flow, from an established leading brand in the indoor trampoline recreational sector. The asset comprises a centrally located single tenant NNN leased warehouse on a long-term commitment to Sky High Sports Concord, LLC for 15 years. The original lease com-menced March 1, 2010 and a new lease was signed May 1st, 2017 to April 30th, 2032 (14 years remaining) with scheduled rent increases on May 1, 2022 and May 1, 2027.

Download the CA and OM here: 
https://www.crexi.com/properties/129371/california-1631-challenge-drive?flyer=download
  • Long Term (NNN) Leased Investment - 14 years remaining, rent increases 2022, 2027
  • Tenant reimburses Landlord costs for structure/roof, common operating expenses, building insurance, property taxes and property management
  • Sky High Sports has been at this location for 8 years and renewed for 15 years in 2017
  • Tenant is committed to the location. Within a 10 mile radius 98 elementary and middle schools - tenants target audience
  • No competitors within 15 miles. High barriers to entry due to zoning. Very attractive location for tenant's business


 
Contact Information
phone: (925) 627-6027
Offer Valid: July 5, 2018December 31, 2018
Commercial Brokers Association