LA Z BOY 495 E Hospitality Ln

Long-term Extension: The tenant recently executed a new 11 year lease extension, further showing their commitment to the location.
Major Store Remodel: In addition to the newly extended lease, the store will be undergoing a $750,000-$900,000 remodel. This will be the second store remodel in the past 8 years, with total renovation value upwards of $1.5 million.
High Performing Location: FY24 gross sales upwards of $3,600,000. Contact agent for further details.
High Density Market: San Bernardino is ranked 12th in the top MSAs in the US. Within a 3-mile radius there are nearly 85,000 residents and over 250,000 within a 5-mile radius.
Major Retail Corridor: The subject property is located in South Palm Centre, which is a major power center that includes multiple national retailers including Home Depot, PetSmart, LA Fitness, Office Depot, Aldi, Chilis and more.
Long term Operating History: The tenant has been operating at this location for 30+ years. In 2015, the tenant invested +/- $750,000 in capital improvements as well as executing a brand new 10 year lease, further cementing their long term commitment and success at this location.
Corporate Guarantee: The lease is corporately guaranteed by La-Z-Boy Inc. (NYSE: LZB). They currently operate over 2,300 locations across the US, have 10,500 active employees and have revenues nearing 2.35 billion.
Vehicle/Foot Traffic: Located off the 10 freeway and two major intersections Hospitality Ln and Waterman Ave. The 10 freeway sees over 200,000 VPD, Hospitality Ln north of 25,000 VPD and Waterman Ave north of 15,000 VPD.