A Central Valley big box investment in the area’s dominant retail node, At Home in Clovis represents a leasehold interest that is subject to a ground lease featuring over 25 years of control including extension options.

This successful, growing tenant recently executed a 10-year lease with three 5-year options which include 10% rental escalations every five years, while the ground lease rent remains flat through November 2045. At Home’s rent commencement date is anticipated for March 2020, and will be paying a low annual rent of $10.63/ft.

The subject property benefits from an extremely high identity location along Shaw Avenue, which is the dominant east-west thoroughfare which runs through Fresno and Clovis. The Shaw Avenue retail corridor is the premier shopping destination in the region, which has experienced renewed investment and development over the past few years. At Home is adjacent to Lowe’s and is part of the greater Sierra Pavilions shopping center, which features other national retailers including Big Lots, FoodMaxx and Party City. Just down the street is a relocation Costco that recently opened its doors, helping drive additional traffic to the trade area.