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Orchard Supply Hardware
1751 Eastshore Blvd.
El Cerrito, CA
$11,110,000

The subject property is a retail building sub-leased to Orchard Supply Hardware, located in the east Bay Area city of El Cerrito, California. The original tenant, Bay Area Warehouse Stores, a wholly owned subsidiary of Ralph’s Grocery Company then acquired by The Kroger Company, continues to guaranty lease payments. OSH has subleased the Property through the remaining term of the original 25 year lease. OSH’s investment in the building included addition of an outdoor nursery. The Property consists of a 49,569 sf building on 3.84 acres of land in the Del Norte Shopping Center with visibility from Interstate 80 and access from San Pablo Ave. The Property shares an entrance with Walgreens Drugstore, Staple’s Office Supply, Dollar Tree, IHOP Restaurant, Jack in the Box and Church’s Chicken. Directly across San Pablo Ave. is the Del Norte B.A.R.T. station and Safeway Supermarket (currently under construction). San Pablo Ave. is a busy commercial artery that parallels Interstate 80. El Cerrito is in Contra Costa County and is bordered by Albany, Berkeley and Richmond. The rent is comprised of base rent plus the amortized reimbursement of a Tenant Allowance provided by the original landlord.

Tenant: Orchard Supply Hardware, LLC
Orchard Supply Hardware (OSH), a member of the Sears Holdings Corporation (NASDAQ: SHLD) family of companies, is one of California’s largest hardware and garden retail chains with over 85 stores averaging 40,000 square feet. Since 1931 and with a consistent focus on convenience, service and selection, OSH has helped generations of customers maintain and repair their homes and gardens with over 45,000 items, easy-to-shop stores and homespun hospitality. OSH started as a farmer’s cooperative in San Jose, CA.
Sears Holdings Corporation is the sixth largest retailer in the United States. It was formed in 2005 by the merger of Sears, Roebuck and Company of Hoffman Estates, Illinois with Kmart Holdings Corporation of Troy, Michigan. The company operates 3,800 retail locations under the mastheads of Sears, Sears Grand, Sears Essentials, Sears Hardware, Kmart, Big Kmart, Super Kmart, Lands’ End and Orchard Supply Hardware.

Guarantor: The Kroger Company
The Kroger Company is one of the nation's largest grocery retailers trailing only Wal-Mart Stores. The Kroger Co. was founded in 1883 is headquartered in Cincinnati. They operate 2,468 supermarkets, 909 fuel centers, 777 convenience stores and 374 fine jewelry stores directly or through their affiliates. These brands include Kroger, Ralph’s, Dillon’s, Fred Meyer, King Soopers, Fry’s, Smith’s, Food4Less and FoodsCo. Kroger also operates 40 manufacturing plants, including 15 dairies and three ice cream plants, and packages and sells items for other retailers under the Inter-American Products Company name. Since 1998, Kroger has added 909 fuel centers in the parking lots of its supermarkets. The Company boasts sales in excess of $76 billion and a net worth in excess of $5 billion. They employ more than 334,000 across the country.

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