BluePearl & Federal Government Tenant

Monterey
,
CA
California

Call for Details

$

6,808,000

Call for Details
6.25
%
CAP Rate

Close to MRY

Across from Monterey Regional Airport with Easy Access to Highway 1

$3B in Visitor Spending

Monterey has over 3M Visitors Annually

2.98 Acre Lot

with Flexible Zoning - Multi-Family Residential Allowing for Medium Density

Property details
  1. Rare Two-Tenant Medical-Retail & Government-Leased Investmentin the Heart of Monterey
  2. 100% Occupied by BluePearl and the Federal Government on Long-Term Leases
    • 13-Year Net Lease to BluePearl with 2.5% Annual Rental Escalations
    • Federal Government Tenant has Occupied the Building Since 2015
  3. E-Commerce & Recession Proof Uses
    • Secure Investment with the Benefit of a Government Entity Lease Providing Stability in this Changing Economy
  4. BluePearl has 100 Locations in 29 States with Over 7,000 Employees and Annual Revenue of $340 Million in 2021
    • In 2015, BluePearl was Purchased by Mars, Incorporated, the World’s Leading Pet Nutrition and Healthcare Provider
  5. Extensive Renovations and Investment by Both Tenants Showing their Long-Term Commitment to this Property
    • Federal Government Tenant’s Funded TI Cost of $300/SF
    • Blue Pearl Tenant Funded TI Cost of Approx. $1.5M
  6. Total Daytime Population of 112,578 within 5 Miles of Site
  7. Average Household Income of $141,005 within a 5 Mile Radius
Listing leads
Putnam Daily
Managing Partner
CA RE Lic #01750064
Lindsey Snider
Senior Partner
CA RE Lic #01443387
Property Specs
Tenancy
Single Tenant
Multi Tenant
Building Size
19,102
SF
Lot Size
2.986
AC
View Offering Memorandum
View Offering Memorandum
Listing leads
Putnam Daily
Managing Partner
CA RE Lic #01750064
Lindsey Snider
Senior Partner
CA RE Lic #01443387