CONFIDENTIALITY AGREEMENT FOR FULL EXECUTIVE SUMMARY
SEATTLE, WASHINGTON Sprouts & HomeGoods INGRAHAM HIGH SCHOOL
FUTURE SEATTLE POLICE DEPARTMENT PRECINCT #2 SPROUTS & HOMEGOODS THE OFFERING
DOWNTOWN SEATTLE $25,400,000 PRICE
PROPOSED 128-UNIT THE OFFERING IS A fully repurposed two-tenant, grocery- MULTI-FAMILY anchored retail property along the busiest arterial in North PROJECT Seattle. This former successful Albertsons was forced to close during the Safeway merger and was demised and replaced by growing, publicly-traded Sprouts Farmers Market and TJX branded HomeGoods. Both tenants made long term commitments to the location with Sprouts signing a 15-year lease term and a 10-year term from HomeGoods. The leases are NNN with multiple option periods and scheduled rent increases every five years. Both tenants are publicly-traded companies and HomeGoods has an exceptional investment-grade credit rating under the TJX banner (S&P: A). The Property is part of a larger retail shopping center in a growing submarket that services both value shoppers and multimillion dollar houses. This strategic grocery location provides for a passive investment in a like-new facility.
PAGE 3 SPROUTS & HOMEGOODS THE TENANTS
About HomeGoods
13020 AURORA AVENUE NORTH, SEATTLE, WA 98133 HOMEGOODS OFFERS an eclectic assortment of home décor, furniture, and accessories, in operation for nearly 30 years. HomeGoods is a subsidiary of TJX Companies with an investment-grade credit rating (S&P: A). Overall store sales continue to increase with a 16% increase for Q1 2021 over Q1 2020. TJX Companies announced in March 2021 their long term plans are to double the number of HomeGoods stores to at least 1,500 throughout the U.S.
843 1992 LOCATIONS YEAR FOUNDED
A TJX STANDARD & POOR’S NYSE CREDIT RATING
TJX Companies PARENT COMPANY SPROUTS & HOMEGOODS THE TENANTS
About Sprouts
13010 AURORA AVENUE NORTH, SEATTLE, WA 98133 SPROUTS IS A highly-regarded specialty grocer with 35,000 employees and over 360 stores throughout 23 states. Sprouts is growing annually, with an estimated 20 new locations to open in 2021 with 10 new stores year-to- date. Sprouts offers a unique grocery shopping experience with a focus on wholesome, organic, plant-based, and curated products with a cult-like following. This location is the 4th location in the Seattle MSA.
20+ 362 NEW OPENINGS TOTAL STORES PLANNED IN 2021
23 SFM STATES NASDAQ
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KEVIN ADATTO [email protected] PH: 503.675.7726
DAVID MERISKO [email protected] PH: 206.641.9500 Our brokers collaborate.
CONFIDENTIALITY KEVIN ADATTO LANCE SASSER AGREEMENT FOR FULL EXECUTIVE SUMMARY SEAN TUFTS PETER DUNN
MICHAEL HORWITZ MICHAEL LOWES
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