Grocery Outlet

For Sale


Property ID

22,700 SqFt



NAI Elliott, as exclusive advisor, is pleased to present the opportunity to acquire Grocery Outlet (the “Property”), within the Heritage Plaza in Albany, OR. This rare investment opportunity allows an investor to purchase fee simple interest in approximately 3.09 acres encumbered by a longstanding NNN lease with Grocery Outlet. Heritage Plaza is a master planned community comprising 12 buildings with 220,000+ sq. ft. covering 22 acres built adjacent to Heritage Mall, a regional mall that offers a diverse range of retail, dining, and entertainment options to resident of Albany and surrounding areas. The subject property is located in the center of Heritage Plaza with convenient access to on and off ramps intersecting Interstate 5 (I-5) and connection to 53,572 ADT.

Grocery Outlet is a supermarket company that offers discounted, overstocked and closeout products from name-brand and private label suppliers with over 450 locations nationwide. Grocery Outlet Holding Corp. (NASDAQ: GO) has headquarters in Emeryville, CA and boasts a $2.81 billion market capitalization. Unlike traditional grocery stores, Grocery Outlet targets price conscious consumers, and it dominates this market segment as a west coast junior box retailer with an average footprint of 15,000 – 20,000 sq. ft. The company plans to continue to drive sales growth and profitability by maintaining a steadfast focus on their value proposition and store expansion. Over the long term, the company estimates the market potential exists to establish 4,800 locations nationally.

Grocery Outlet’s NNN lease has approximately 5.5 years of extended term remaining and two additional five-year options with 10% rent increases. The lease limits Landlord responsibilities to roof and structure with the Tenant responsible for keeping the Premises (including the asphalt parking areas) in good condition and repair. In addition, Tenant is responsible for regular service, maintenance and repair of HVAC and sprinkler systems. The Property is an ideal 1031 exchange candidate or addition to an existing net lease portfolio.


Address: 1950 14th Ave SE
  • Province / State: Albany
  • City / Town: OR
  • Postal code / ZIP: 97322
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  • Property ID 7997
  • Price $3,700,000
  • Property Type Retail
  • Property status For Sale
  • Year Built 1995
  • Size 22,700 SqFt
  • Land area 3.00.09 Acres
  • Sellers Motivation 1031 Exchange
  • Number of Units 1

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Ashton Summers

Property Seller
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