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INVESTMENT HIGHLIGHTS
Corporate-backed, investment-grade tenant that has occupied the property since 1983. Shell recently extended their lease term for an additional 10 years and still has one FMV 5-year option remaining.
Strong ground lease with 10 years remaining well below market rent, allowing for minimal Landlord responsibilities.
Pad located within the greater Westgate South Shopping Center that includes Big Lots, Planet Fitness, Starbucks, and McDonald’s. Three new national fitness and dining brands are negotiating LOIs at the center.
The second closest gas station on Pearl Street, from Hwy 16, which feeds I-5 and Gig Harbor, Washington.
Strategically positioned less than a mile from Hwy 16, and on the northwest corner of North Pearl Street and North 26th Street, which sees 23,000 VPD and serves other successful retailers including the recently fully remodeled Safeway, Ace Hardware, Rite Aid, Habit Burger, Dairy, and MOD Pizza.
Strong local demographics with nearly 188,000 residents within a five-mile radius.
In close proximity to Point Defiance Park and Point Defiance Zoo & Aquarium, which draws more than 700,000 visitors per year.
Operated by a successful joint venture between Shell Oil and Jackson Food Stores.
