Investment Summary
Price | $1,886,000 |
Cap Rate | |
NOI | |
Lease Term | 15 Years, With 12 Years Remaining |
Lease Type | Absolute NNN, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure And Parking Lot |
Rental Increases | 10% Rental Increases In Initial Term And Option Periods |
Year Built | 2015 |
Building Size | 9,180 SF |
Lot Size | 1.3 Acres (56,628 SF) |
Status | Under Contract |
Lead Brokers | Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
15-YEAR CORPORATE GUARANTEED LEASE TO NATIONAL TENANT WITH STRONG FINANCIALS
» 15-year absolute NNN lease—with 12 years remaining—plus options
» 10% rental increases every five years, providing a hedge against inflation
» No landlord management, providing the ideal investment opportunity for an outof-area investor
» Guaranteed by Family Dollar, Inc., owned by Dollar Tree, Inc. (NASDAQ: “DLTR”)
» Company operates over 15,000 stores and has annual sales of over $22.8 billion
» Family Dollar, Inc. and Dollar Tree, Inc. are rated “BBB-” by Standard & Poor’s
HIGH-TRAFFIC LOCATION NEAR INTERSTATE 185
» Excellent visibility and access to 15,000 vehicles per day directly in front of the site along Floyd Road
» Minutes from Interstate 185 (72,200 AADT)
» Interstate 185 is the primary freeway in the region and connects the Columbus and Atlanta metropolitan areas
» 132,252 residents live within a five-mile radius of the site
NEAR MAJOR EMPLOYERS AND COMMUNITY AMENITIES
» Minutes away from the area’s industrial region, which includes TSYS (4,690 employees) and Swift Spinning (300 employees) among other industrial tenants
» Within five miles of Columbus State University and St. Francis Hospital
» Columbus State University has approximately 8,300 students and 1,200 employees
» Columbus State University’s economic impact on its surrounding region is more
than $295 million annually
» The 376-bed St. Francis Hospital is a major economic driver, employing a staff of 2,800
Property Description
SOLD
The property is conveniently located on Floyd Road, with excellent visibility and access to 15,000 vehicles per day directly in front of the site. The property is six minutes away from Interstate 185, which experiences a high traffic count of 72,200 vehicles per day. Interstate 185 is the primary freeway in the region and connects the Columbus and Atlanta metropolitan areas. The property is supported by a large customer base in the surrounding area; 132,252 residents live within a five-mile radius of the site. It also benefits from proximity to Wesley Heights Elementary School and Fort Middle School with 924 students combined.
The property benefits from its proximity to the area’s industrial region, which houses TSYS (4,690 employees) and Swift Spinning (300 employees) among many other industrial tenants. The property is less than five miles away from Columbus State University and St. Francis Hospital. Columbus State University, ranked among the top regional universities in the South by U.S. News & World Report, has approximately 8,300 students and 1,200 employees. As a major employer in the area, Columbus State University’s economic impact on its surrounding region is more than $295 million annually. The 376-bed St. Francis Hospital is also a major economic driver, employing a staff of 2,800. The property is also located minutes away from the dense retail area surrounding Peachtree Mall, the only super-regional shopping center within 60 miles. Notable tenants in the area include Piggly Wiggly, Circle K, Advance Auto Parts, Walmart Neighborhood Market, TSYS, Swift Spinning, Macy’s, At Home, Dillard’s, JCPenney, AMC Theatres, Marriott, and many others.