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INVESTMENT HIGHLIGHTS
RECENTLY EXECUTED LEASE EXTENSION: Christmas Tree Shops has recently executed a Lease extension; they have six and one half (6.5) years remaining on their lease term with three 5-year renewal option remaining. The Tenant has been at this location since 2003.
ZERO MANAGEMENT RESPONSIBILITIES: The Christmas Tree Stores Lease is Triple Net and requires no landlord management responsibilities, making it an attractive investment for the passive real estate investor.
TENANT CREDIT: Christmas Tree Shops is a wholly owned subsidiary of Bed Bath & Beyond, a publicly traded company with a market cap of $1.54 billion. Bed Bath & Beyond had revenue of $12 Billion in 2019 and has a credit rating of B+ (S&P) and Ba3 (Moody’s).
PREMIER RETAIL LOCATION: The free-standing Property is located in the heart of Rhode Island’s primary retail trade area along the heavily travelled Quaker Lane/Bald Hill Road (Route 2). Quaker Lane/Bald Hill Road (Route 2) serves as a connector road between the state’s two primary highways, Interstates I-95 and I-295.
INVESTMENT HIGHLIGHTS
RECENTLY EXECUTED LEASE RENEWAL: Christmas Tree Shops executed both their first and second Lease Renewals; they have six and one half (6.5) years remaining on their lease term with four 5-year renewal option remaining. The Tenant has been at this location since 1997.
SIGNIFICANT RENT INCREASES IN RENEWAL OPTIONS: Christmas Tree Shops has four, 5-year renewal options remaining with a 20% increase in the first renewal option, 10% increases in the second and third renewal options, and fair market rent in the fourth renewal option.
ZERO MANAGEMENT RESPONSIBILITIES: The Christmas Tree Stores Lease is Triple Net and requires no landlord management responsibilities, making it an attractive investment for the passive real estate investor.
CREDIT TENANT: Christmas Tree Shops is a wholly owned subsidiary of Bed Bath & Beyond, a publicly traded company with a market cap of $1.54 billion. Bed Bath & Beyond had revenue of $12 Billion in 2019 and has a credit rating of B+ (S&P) and Ba3 (Moody’s).
Ethan Cole | RI Broker of Record | License REB0018287
Information concerning the property described herein has been obtained from sources other than Horvath & Tremblay and we make no representations or warranties, express or implied, as to the accuracy or completeness of such information.
