Pharma Property Group has been retained as exclusive agent and is pleased to offer investors the opportunity to acquire a Rite Aid in Calexico, CA.
There are currently ±6 years remaining on the double net lease with six (5 year) options and increases. Rental increases are 10% in the first option and 5% every five years during the remaining options which begin in February of 2027.
The subject property is located 1.5 miles from the US/Mexico border where approximately 7.1 million cars and 4.4 million pedestrians cross into and out of the United States annually.
This Rite Aid is located in the heart of Calexico at the NWC of Imperial West Avenue (Highway 111 - ±32,000 cars per day) and West Birch Street (Highway 98 - ±26,774 cars per day) with traffic counts of ±50,000 cars per day. This is the only standalone, national chain drugstore in the Calexico. Closest Walgreens and CVS locations are over 7 miles away.
Subject property is an out-parcel of a shopping center anchored by Food-4-Less with other tenants including Starbucks and Carl's Jr. Just 1.5 miles away is the Gran Plaza Outlets, a 700,000 square foot outdoor outlet mall anchored by Coach, H&M, Old Navy, Sketchers, Nike, Michael Kors, Guess, and Banana Republic.
Calexico is a city in the imperial county and is the adjacent city to Mexicali (±1,000,000 population) at the border of Mexico. It is located 122 miles east of San Diego and 62 miles west of Yuma, Arizona. Calexico's location provides easy overnight trucking access to various transportation hubs plus the ports of Long Beach, California, and Ensenada, Baja California, Mexico. Calexico is served by State Routes 98, 7 and 111, with direct connection to Interstate 8 (5 miles north) and State Route 86.