Asking Price: $1,317,716
Cap Rate: 6.00%
- Easily accessible location: The Property is situated directly south of the Massachusetts state line and is positioned at a prominent signalized intersection across the street from Walnut Hill Plaza, a 298,598 square foot shopping center that features national tenants including Planet Fitness, GameStop, and Savers.
- Market-leading tenant: AutoZone is the leading retailer and distributor of automotive replacement parts and accessories in the United States and currently operates more than 6,000 store across the globe. During fiscal year 2017, the Company saw historic sales growth, reaching $10.9 billion.
- Strong net lease asset: The Property is a strong asset to acquire due to the corporate guarantee of this AutoZone lease, as well as the Company’s stable credit rating by S&P and Moody’s (“BBB” and “Baa1,” respectively). This long-term lease features structured rent increases within each of the three five-year options to extend. The tenant recently extended the base term of the lease by five years to 2026.
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