(Chico) One of the best NNN investment properties to ever hit the market in Chico, has been co-listed by Coldwell Banker Commercial and Hanley Investments. The brand new Ulta Beauty in front of Costco, a sterling income property with a strong tenant, is being offered for $6,985,000. ULTA Beauty (NASDAQ: ULTA) is the largest beauty retailer in the United States with more than 907 locations across 48 states and $3.9 billion in sales in 2015. In its latest earnings report in August, 2016, Ulta Beauty posted another spectacular quarter amid surging sales up by more than 30%. It was the ninth consecutive quarter that the beauty retailer topped expectations. See Earnings Report below.
The new Chico Store is scheduled to open in time for Black Friday, the day after Thanksgiving. The real estate offering will provide an investor with at least a 4.75% return, and covers all the investment fundamentals by coming with a safe and secure tenant with a long term lease, a good location in front of a high performing Costco, and a high quality metropolitan market. The City of Chico is home to California State University, Chico, and has a regional trade area of more than 280,000 people in a 30-mile geographical radius, and an average household income of nearly $70,000 in a 10 mile area. The Ulta Beauty store is also next to a planned visitor expansion site of the world renowned Sierra Nevada Brewing Company, a major tourist attraction for the region.
The sale is being arranged by Mike Donnelly of Coldwell Banker Commercial - DuFour Realty, and Bill Asher of Hanley Investments. For more information on the Offering Memorandum, please CLICK HERE or contact Mike Donnelly at 530-828-0011