Lucrum is proud to announce that our client has gone non-contingent on a single-tenant NNN investment property located at 960 W. Holt Blvd. in the City of Ontario, California. The property, which is leased to Rent-A-Wheel, consists of 3,650 ± building square feet and was built in 1968.
The property is located on a large 15,000± sf lot zoned commercial within the highly trafficked retail corridor of Holt Blvd. The Rent-A-Wheel franchise, which owns over 136 locations throughout the United States is on the 6th year of the original 10-year corporate guaranteed NNN lease, that offers an additional (2) 5-year options at a Cap Rate of 5.00%.
Located in a highly trafficked retail corridor and only minutes from Ontario International Airport, Toyota Arena & Ontario Convention Center, W. Holt Blvd sees an estimated traffic volume of 8,000 VPD.
Ontario, California has long been considered a city of car enthusiast and the home of the Ontario Motor Speedway, which hosts such events as NASCAR, Formula-1 and NHRA drag racing.
In addition to being home to several major venues, Ontario, California has seen a positive increase in the city’s population year over year. With a pro-business philosophy and strong local economy, Ontario has become the destination for businesses and individuals alike.