Best Buy - Hillsboro, OR

18085 NE Evergreen Highway
Hillsboro, OR 97006

Marketing Materials

Overview

JLL is pleased to offer for sale the Best Buy in Hillsboro, Oregon located just 10 miles east of downtown Portland. Best Buy currently has approximately 11+ years remaining on the lease with increases in the base term and minimal landlord responsibilities. The Property, just off of U.S. Highway 26, has over 80,000 vehicles per day with great visibility. The local trade area is deeply established with many national retailers and corporations which drive additional daily traffic. The "Property's" new lease economics coupled with its strong investment grade tenancy and location make this a tremendous investment opportunity relative to other Best Buy Properties.
  • Primary Broker

    Peter Furest - Net Lease Broker
    Peter Furest
    (212) 812-5802

  • Secondary Broker(s)

    Geoff Tranchina - Net Lease Broker
    Geoff Tranchina

    (310) 694-3180

  • Bill Moylan - Net Lease Broker
    Bill Moylan
    (202) 719-5651

  • In-State Licensee

    Paige Morgan - Net Lease Broker
    Paige Morgan
    OR

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Investment Highlights
• Newly extended lease with ten years of additional term (11+ years of term now remaining)
• Tenant has assumed an additional 40,000 SF of space, demonstrating proven success of location
• Location just off the US. Route 26, which sees more than 80,000 vehicles per day
• Investment grade tenancy of S&P BBB- with a positive outlook
• Healthy population figures with 127,500+ residents within 3-mile radius
• Located near several of the world's largest technology companies providing substantial day-time traffic
General
Property Type Retail
Property Address 18085 NE Evergreen Highway
Hillsboro, OR 97006
Building Size 76,483 Square Feet
Primary Use None
Tenancy Single-Tenant
Financial
Price $20,000,000
Price PSF $261.50
Cap Rate Confidential
Current NOI $1,465,223
Lease
Tenant Name Best Buy
Credit Rating (Moodys) Baa1
Credit Rating (S&P) BBB-
Lease Type NN
Annual Rent $1,465,223
Rent PSF $19.16
Rent Escalations Increases in base term and options
Lease Expiration Date 3/31/2029
Remaining Term 10.8Yrs