Tanasbourne West Shopping Center

Jack in the Box

7445 NE Imbrie Dr, Hillsboro, OR 97124

Corner location at the entrance to Tanasbourne West Shopping Center, co-anchored by Fred Meyer and Starbucks. Jack in the Box is operating under a ground lease with strong renewal options and annual rent escalations.

Price
$2,695,000
Cap Rate
4.07%
NOI
$109,807
Building Size
2,857 SF
Year Built
2001
Sale Type
Investment

Key Features

  • Corner location at the entrance of Tanasbourne West Shopping Center, anchored by Fred Meyer and Starbucks
  • Ground lease rent is $109,807 annually through June 29, 2026
  • Rent increases to $120,788 during the second 5-year renewal, if exercised
  • Tenant must notify landlord of second renewal option by December 31, 2025
  • Original 20-year ground lease with four 5-year renewal options; currently in first option term
  • Tenant is responsible for maintenance, property taxes, insurance, and CAM costs
  • At end of lease term, ownership of building reverts to landlord
  • Constructed in 2001 by Jack in the Box, building size is 2,857 SF
  • Future rent for third and fourth options set to fair market value

Property Location