CITRUS HEIGHTS, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has received the exclusive listing for the triple-net ground lease of a 133,298-square foot freestanding Sam’s Club (top left photo) located in Citrus Heights, approximately 16 miles northeast of Sacramento. The listing price of $15.3 million represents $115 per square foot.
Kyle Matthews (lower right photo) a vice president investments, and Mike James, a net-leased investment property specialist, both in Marcus & Millichap’s Encino office, are representing the seller, a private investor.
“In-place fully amortizing 4.93 percent APR financing due in May 2027 is available, and the lease is guaranteed by Walmart,” says Matthews.
The property is located at 7147 Greenback Lane in Citrus Heights.
The Sam’s Club was built in 2003 and the lease commenced in July 2001. The lease’s base term is for 25 years at the fixed annual rent of $950,000.The tenant has seven 10-year renewal options.
Sam’s Club is a subsidiary of Walmart, a Standard & Poor’s 500 Index AA-rated tenant, with more than 600 locations. Walmart is publicly traded on the New York Stock Exchange under the stock symbol WMT.
Contact: Stacey Corso, Public Relations Manager, (925) 953-1716
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