Trader Joes
Baskersfield, CA
Trader Joe’s is an American chain of grocery stores based in Monrovia, California, owned by a German private equity family trust. By 2015, it was a competitor in “fresh format” grocery stores in the United States. As of October 12, 2017, Trader Joe’s had 474 stores nationwide in 43 states and in Washington, D.C. Trader Joe’s was founded by Joseph “Joe” Coulombe. From 1979, it was owned by German entrepreneur Theo Albrecht until his death in 2010, when ownership passed to his heirs. The company has offices in Monrovia, California, and Boston, Massachusetts.
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Typical Lease Characteristics
Lease Term: 15 - 20 Years Years
Lease Type: NNN & NN
Lease Increases: 10% Every 5 years
Lease Extensions: 4-5 (5) Year Options
Lease Guarantor: Corporate
Positives:
- Loyal Customer Following
- NNN lease eliminates landlord responsibilities
- Typically Long term leases with increases
Negatives:
- Typically low cap rates
- Susceptible to economic trends and pressures
- Unique buildouts and large spaces make it more challenging to re-tenant
Market Snapshots:
On Market Ranges:
# of Properties in set: N/AV
Price: N/AV - N/AVAverage: N/AV
PPSF: N/AV - N/AVAverage: N/AV
Year Built: N/AV - N/AVAverage: N/AV
CAP Rate Range: N/AV - N/AVAverage: N/AV
Size range: N/AV - N/AV Average: N/AV
Last 12 Month Range:
# of Properties in set: 1
Price: $5,120,000 - $5,120,000Average: $5,120,000
PPSF: $353 - $353Average: $353
Year Built: 2006 - 2006Average: 2006
CAP Rate Range: 5.35% - 5.35%Average: 5.35%
Size range: 14,470 sq ft - 14,470 sq ft Average: 14,470 sq ft
Trader Joes Similar Tenants
Trader Joes Company Profile
Headquarters Information
Monrovia, California
Founded in 1967
Company type: Private
Parent Company: Aldi
Industry: Retail (grocery)
# of Employees: 38,000