Thomas Company is pleased to offer for sale a well-located, 56,199 square foot grocery store in Lacey, WA. Safeway has operated at this location for more than 30 years and has recently executed a 20-year Absolute-Net lease in a sale-leaseback. The store generates excellent sales volume and is situated just a few miles from the state capital, Olympia, WA.
- 20-Year Absolute-Net lease (19.6 years remaining) with 1.5% annual increases at the start of years 2-5, followed by 7.5% increases in years 11 and 16
- Excellent store sales with strong rent coverage
- Corporate-guaranteed by Albertsons Companies, Inc. (S&P: B+), the 2nd largest traditional grocer in the United States with over 2,500 locations and serving over 34 million customers per week
- The tenant is responsible for all management and maintenance of the asset including roof and structure