Hobby Lobby - Recent Lease Extension

The Snyder Carlton National Net Lease Team is pleased to offer investors an opportunity to acquire the single tenant net leased Hobby Lobby in Roseville, CA. Hobby Lobby is the largest privately owned arts and crafts retailer in the world with over 1,000 stores in 48 states and over 46,000 employees. Demonstrating the strength and profitability of this location, the tenant recently extended the lease (8.5 years remaining) and has two 5-year option periods. With limited landlord responsibilities, rent increases every 5 years and the potential for percentage rent, this asset is ideal for an opportunistic investor seeking long-term cash flows.

The 76,083 SF building on 6.7-acre parcel anchors Placer Center Plaza Shopping Center and is located within Roseville’s busiest retail corridor. Nearby retailers include The Home Depot, Target, Raley’s, Sprouts Farmers Market, Trader Joe’s, Grocery Outlet, Ross, Petco, Bank of America, Chase Bank, McDonald’s, Panera Bread, In-N-Out Burger, Starbucks and more. Positioned between Douglass Blvd (46,956 VPD), Santa Clara Drive (6,426 VPD) and Sierra Gardens Drive (8,496 VPD), the subject property is a half mile from Interstate 80 (over 178,500 VPD) and Kaiser Permanente Roseville Medical Center. The 900,000+ SF hospital with 350 beds is currently undergoing an expansion, which will comprise an additional 278,000 SF and 158 beds. The expansion is expected to be completed in 2027 and will make Kaiser Roseville the largest hospital in Placer County.