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Views: 331 DOM: 158 Updated: 06.28.24 Posted: 06.28.24 Status: Active

Summary

Price $4,946,000
Built/Renov 2024
Tenant Circle K (GL)
Cap Rate 4.65%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 5,200
Lease Start 10-01-2024
#Units 16,700
Price/SF $951.15
Expiration 09-30-2044
Tenant Type Convenience/Gas
NOI $230,000
R. Term 19.10
Ownership Ground Lease
Rent/SF $44.23
Increases 5.0%/5/yrs
Pop 5Mi 142,378
Lot/AC 1.50
Options 8/5yrs/5%
AHHI 5Mi $106,239

Lease Highlights

  • Brand-new 2024 construction
  • New 20-year ground lease with 8 (5-year) options to extend
  • The lease features 5% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Circle K is strategically located at the signalized, hard corner intersection of Vista Boulevard and Golden Triangle Way, with access to a combined daily traffic count of 40,950 vehicles. The property is part of the Golden Triangle Development, which will include Guthrie’s Chicken and a future retail tenant. Adjacent to the site is the newly developed Rowan Apartments, and a new EXO...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Circle K
  • Guarantor:Corp T and Rated
  • Company:Alimentation Couche-Tard
  • # Units:16,700
  • Tenant S&P: BBB+
  • Moody’s: Baa1
  • Stock: TSX: ATD

About Tenant

Circle K Stores, Inc. is an international chain of convenience stores, and the largest independent convenience store operator in the U.S. in terms of the number of company-operated stores. Founded...


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