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OFFERING PRICE:
$2,718,000
CAP RATE:
7.35%
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INVESTMENT HIGHLIGHTS
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High Credit SNTL – 100% leased to PetSmart on a long-term, corporate lease
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PetSmart operates 1,800 stores and has a reported revenue of approximately ±$8 billion, up 14% year over year
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Internet Resistant Tenancy – This PetSmart location features a Banfield Pet Hospital, which draws customers and pets to the store and enhances daily trips to the property
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Recent Lease Extension – Due to strong sales performance at this location, PetSmart recently exercised its option to renew its lease, TWO years ahead of its expiration, creating a long-term, 7-year lease with two, 5-year options to extend
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NNN Expense Pass Through – PetSmart is on a NNN lease and includes a 5% administrative fee recapture – common area costs reside with the tenant, not the landlord creating a perfect “coupon clipper”
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Regional Draw – PetSmart is located in the dominant community center and shadow anchored by a high-performing Walmart Super Center (NAP), 24 Hour Fitness (NAP) and AutoZone (NAP) along with a synergistic mix of “daily needs” tenants |
CLICK HERE TO DOWNLOAD OFFERING MEMORANDUM
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INFORMATION
PLEASE CONTACT:
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THIS IS A MARKETING COMMUNICATION
We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.
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