Hanford, CA
- Rite Aid added 10 years additional firm lease term in 2022.
- Absolute net lease with 18+ year operating history.
- 12 years remaining with 10% rental increases in first, third and fifth options.
- Located on one of the main intersections in Hanford with over 39,000 vehicles per day.
- Strategically located across the street from CVS.
- One mile west of 142-bed Adventists Health Hanford Hospital with over 4,000 employees.
- Across from Hanford Towne Center (222,000 SF) with Smart & Final, Staples and 99 Cents Only.
Pharma Property Group is pleased to market for sale the Rite Aid located at 707 West Lacey Boulevard in Hanford, California ("The Property"). Rite Aid has been operating at this Kings County site for 18+ years and in 2022 Rite Aid added 10 more years of firm term to the original lease showing commitment to the location. The Rite Aid lease now has over 12 years remaining on the lease term and 6 (5-year) options to extend with 10% increases in the first, third and fifth option periods.
The Property is located in the heart of Hanford at one of the busiest intersections in the city with traffic counts of nearly 40,000 vehicles per day. Across the street is Hanford Towne Center (±222,000 SF) anchored by Smart & Final, Staples, and 99 Cents Only. Within a mile is the Hanford Mall (±464,000 SF) with national anchors such as Kohls, JCPenny's, Ross Dress for Less and Big 5 Sporting Goods. Also in the vicinity is The Marketplace at Hanford (318,000 SF), which is home to Target, Lowe's, PetSmart, Old Navy, Marshalls, Starbucks and O'Reilly Auto Parts.
The Property also benefits from a strong medical presence and one mile to the west is the Adventist Health Hanford, a 142-bed acute care hospital which employs approximately 4,000 medical and administrative staff including satellite medical offices just two blocks away from subject property.
