$12,385,000 USD
404-441-3849
HIGHLIGHTS
- Premier Luxury Car Brand | Jaguar Land Rover
- NNN Ground Lease | ±20 Years of Term Remaining | 7.5% Rent Increases Every 5 Years | Three, 10-Year Renewal Options
- Residual Value of Improvements | State-of-the-Art Showroom | Three-Story Concrete Parking Structure & Coveted Zoning
- Excellent Access & Visibility | SW Greenburg Road (11,297 VPD) | SW Beaverton Tigard Freeway (107,854 VPD)
- Outparcel to the 1.3 MSF Washington Square Center | 1.7M Visitors Across 5.2M Visits Across the Past 12 Months (Placer.ai)
- Less Than 7 Miles from Downtown Portland | Portland, OR MSA (MSA Population: 2.59M+)
OVERVIEW
The CBRE Net Lease Property Group is pleased to offer for sale the ±20-year NNN Jaguar Land Rover ground lease situated on 4.49 acres in Portland, OR (MSA Population: 2.59M+). The lease features 7.5% rent increases every 5 years throughout the initial term and three 10-year renewal options. The tenant under the lease—Don Rasmussen Company—was founded in 1950 as a Studebaker dealership. Today, the company is exclusively dedicated to Land Rover and has been recognized as one of the premier Land Rover retailers in the nation.
FOR SALE DETAILS
PRICE
$12,385,000 USD
PRICE/SF
$94 USD /SF
CAP RATE
6.25%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Jaguar Land Rover of Portland
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Auto Dealership
TOTAL BUILDING SIZE
-
STORIES
2
YEAR BUILT
2019
SPRINKLERS
-
PARKING SPACES
-
LAND DETAILS
LAND ACRES
4.49 AC
LAND SF
195,584 SF
ZONING
MUC
APN/PARCEL ID
R0273288
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404-441-3849
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404-441-3849
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