1718 S Main St
Willits, CA 95490

The offering provides an opportunity to acquire a recently renovated Grocery Outlet located in Willits, California. Grocery outlet has a lease for the entire 39,716 SF building. Their current store occupies an estimated 65% of the gross leasable area and Grocery Outlet does have the option to sublease the vacant portion of the space. Given the low effective rent of an estimated $8/SF on the occupied space, the high volume of the store, and no sub-tenant in the first four years of the lease, Grocery Outlet does not seem eager to sublease the space. Grocery Outlet is one of the largest “extreme value” grocery retailers in the United States with over $1.6 billion in sales. It is often considered the “T.J. Maxx of food”. Grocery Outlet currently operates 294 stores in California, Idaho, Nevada, Oregon, Pennsylvania, and Washington.