Aldi & Bank of America

Highlights

• New Aldi Grocery Store A 21,000 SF Aldi grocery store is set to open on-site under a fully executed 20- year NNN ground lease, securing a high-quality credit tenant with zero landlord responsibilities and providing long-term, stable passive income
• Bank of America (Below-Market Lease with Value-Add Potential) Bank of America is locked into a long-term lease through June 2030, currently paying below-market rent ($34,219 per year / $2,851 per month). With only one remaining ten-year option, the lease presents a prime opportunity to redevelop the site upon expiration, unlocking significant value appreciation.
• Prime Pad Development Opportunity A 0.5+ acre pad site next to Aldi is zoned for retail and currently being entitled for an additional 5,000 SF of GLA with market rents that should exceed $45 PSF NNN, projected to provide over $200K in additional rental revenue.
• Adjacent Apartment Development The adjacent historic Sears building is being redeveloped into The Arlington, a premier residential community featuring 388 luxury apartments. This upscale development will offer a mix of three-story garden-style flats and two-story townhomes, catering to a high-income tenant base seeking modern, high-end living.
• Affluent & Expanding Trade Area The 3-mile radius boasts an average household income of $104,709, which is 12% higher than the Riverside city average, highlighting strong consumer spending power for grocery, banking, and retail. With 47% of households earning $75,000+ annually, the area supports sustained demand for both essential and discretionary retail
• Prime Location & High Visibility Situated at the northeast corner of Arlington Avenue and Streeter Avenue, this property enjoys strong frontage and visibility along a major retail corridor. Arlington Avenue, a key commercial thoroughfare, sees over 22,000 vehicles per day, ensuring high traffic exposure and a strong customer base for tenants.
• In-Fill Barriers To Entry Location The 3-mile radius boasts a population of 124,000+, and daytime employment of 53,888+, with continued growth projected through 2029, ensuring a sustained and increasing customer base for retailers.
• Easy Access To Center Multiple ingress/egress points on Arlington Ave and Streeter Ave, along with a signalized intersection, ensure smooth traffic flow and maximum customer convenience.

Location