|Listing Fresh & Easy|
The property consists of a fee simple, absolute NNN ground lease of Fresh & Easy Neighborhood Market with 14+ years remaining and 5 5 yr. options. The initial Lease term offers 10% increases every 5 Years, the first option has a 21% rent bump with the remaining options having 10% rent bumps as well. The Lease has recently been affirmed by Y-Opco LLC, a subsidary of Yucaipa Companies, which recently purchased the Fresh & Easy brand from Tesco. The Yucaipa Companies, LLC is a Los Angeles-based holding company, focusing on private equity investments. The firm was founded in 1986 by its billionaire chairman, Ronald Burkle. In September 2013, The Yucaipa Companies acquired British retailer Tesco’ s Fresh & Easy chain after five years in the U.S. market. Yucaipa plans to build Fresh & Easy into a healthy convenient food experience, providing busy consumers with more local and healthy access for their daily needs. Fresh & Easy’ s existing infrastructure offers a tremendous foundation from which to build even stronger capabilities to provide the highest level of freshness and convenience available.
Fresh & Easy