Visalia-3016 Mooney Blvd.indd

Tai Martin
Senior Vice President | Central California Coast
DIRECT +1 805 595 1555
EMAIL tai.martin@colliers.com
LICENSE 01114741
Pismo Beach, CA 93449
www.colliers.com/tai.martin
PRESENTED BY:
For Sale | Retail Investment Opportunity
Offering Memorandum
Offering Memorandum
For
Sale | Retail Investment Opportu-
3016 Mooney Blvd.
Visalia, California
Single Tenant NNN
Investment Property
+/-17,536 square feet
+/-6,694 square feet
1990
20 Spaces
CR (Regional Retail)
W. Whitendale Ave.
+/- 11,600 AADT
Parcel Size:
Building Size:
Year Built:
Parking:
Zoning:
Traffic Counts:
(2013)
3016 MOONEY BLVD. - VISALIA, CA | OFFERING MEMORANDUM
W. Sunnyside Ave. +/2,950 AADT
122-311-015
APN:
Property Address: 3016 Mooney Boulevard, Visalia, CA
PROPERTY DETAILS
Offering Summary
EXECUTIVE OVERVIEW
September 2026
Currently $12,000 NNN per month, but will increase to $15,000 NNN per month
Lease Expiration :
Current Rent:
COLLIERS INTERNATIONAL P. 2
Triple Net. Lessee responsible for all property taxes, insurance
Expense Basis:
and common area maintenance expenses.
$17,500 per month beginning October 2026 (5 year option)
Option Rent Increase:
commencing September 2016 through September 2026.
September 2011
5.0
$180,000
$538
$3,600,000
Lease Commencement:
LEASE DETAILS
CAP Rate:
NOI:
Price PSF:
List Price:
INVESTMENT SUMMARY
Click above for press release
Mattress Firm To Be Acquired by Steinhoff International for $64.00 Per Share in Cash
Colliers International has been retained as the exclusive advisor to sell the 6,694 s.f. single tenant triple
net investment property located at the signalized corner of 3016 Mooney Boulevard and Sunnyside
Avenue in Visalia, California. This building is 100% occupied by national retailer Mattress Firm Holding
Corp. (NASDAQ: MFRM), dba Sleep Train. Ten (10) years remain on the existing lease term that expires in
September 2026. This Visalia Sleep Train store has consistently ranked #1 in sales for the Central Valley
district over the past 3 years, averaging over $3 Million per year in sales.
THE OFFERING
3016 MOONEY BLVD. - VISALIA, CA | OFFERING MEMORANDUM
Tenant Profile
TENANT OVERVIEW
COLLIERS INTERNATIONAL P. 3
• In February of 2016 Mattress Firm acquired 1,050 Sleepy’s stores located in the 17 state
Northeast-New England region. In addition to completing the coast-to-coast roll out, this
strategic takeover is forecast to create bottom line synergies of approximately $40 million per
year by fiscal 2018. Additional savings are expected from cash income tax benefits of
$11 million annually for more than 10 years from the tax deductible tax basis goodwill and from
the carryover tax basis of other assets, both subject to the Company’s ability to generate future
taxable income.
• In October 2014 Mattress Firm expanded its footprint into the West Coast by acquiring
over 310 retail stores from Sleep Train in major markets covering California, Washington,
Oregon, Nevada, Idaho, and Hawaii. Many of the acquired stores are in key strategic markets
with high-volume, established locations including “hard-to enter” trade areas.
Mattress Firm’s recent national expansion milestones:
Mattress Firm Holding Corp. (NASDAQ: MFRM) is the largest mattress retailer in the United States
currently operating over 3,500 mattress specialty retail stores in 48 states with 70 distribution centers,
generating company revenue expected to top $3.5 billion in 2017.
CORPORATION
The Mooney Blvd Sleep Train store has consistently been ranked the #1 store in the Central Valley district
over the past 3 years, solidifying the importance of this property to the Company and their guarantee of
rental payments over the next 10 years of the remaining term.
VISALIA STORE
WalnutAve.
WhitendaleAve.
3016 MOONEY BLVD. - VISALIA, CA | OFFERING MEMORANDUM
VisaliaMall
SunnysideAve.
Town&CountryShoppingCenter
Aerial & Retail Survey
PROPERTY OVERVIEW
CaldwellAve.
SequoiaMall
PackwoodCreekMall
COLLIERS INTERNATIONAL P. 4
3016 MOONEY BLVD. - VISALIA, CA | OFFERING MEMORANDUM
Demographics
MARKET OVERVIEW
COLLIERS INTERNATIONAL P. 5
Visalia, with a population of 124,442 (2010 Census), is a city situated in the
agricultural San Joaquin Valley of California, approximately 36 miles west of
Sequoia National Park and 43 miles south of Fresno. As the county seat of Tulare
County, Visalia serves as the economic and governmental center to one of the most
productive single agricultural counties in the country. As the cultural, economic, and
commercial hub of the County, Visalia continues to grow in population, diversity,
and sophistication. Visalia’s thriving business community has expanded beyond
a traditional agricultural base into a diversified, self-sustaining market including
distribution facilities and manufacturing outlets which are national and international
in scope.
About Visalia
This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this
Offering Memorandum.
A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those
expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Colliers International or any of
their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the
Property.
If you wish not to pursue negotiations leading to the acquisition of 3016 Mooney Blvd., Visalia, CA or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property
including this Offering Memorandum.
Owner and Colliers International expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or
entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered.
3) You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller.
2) You will hold it and treat it in the strictest of confidence; and
1) The Offering Memorandum and its contents are confidential;
By acknowledging your receipt of this Offering Memorandum from Colliers International, you agree:
This Offering Memorandum contains select information pertaining to the business and affairs of the Property at 3016 Mooney Blvd., Visalia, CA It has been prepared by Colliers International. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a
review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Colliers International. The material is
based in part upon information supplied by the Seller and in part upon financial information obtained by Colliers International from sources it deems reliable. Owner, nor their officers, employees, or agents makes
any representation or warranty, express or implied, as to the accuracy or completeness or this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto.
Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence.
CONFIDENTIALITY & DISCLAIMER STATEMENT