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Views: 28 DOM: 38 Updated: 09.12.24 Posted: 08.09.24 Status: Active

Summary

Price $9,445,000
Built/Renov 1997
Tenant Kohl's
Cap Rate 6.40%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 86,584
Lease Start 03-16-1998
#Units 1,174
Price/SF $109.08
Expiration 01-31-2033
Tenant Type Big Box Retail
NOI $604,504
R. Term 8.4
Ownership Fee Simple
Rent/SF $6.98
Increases 5.0%/5/yrs
Pop 5Mi 110,650
Lot/AC 32.66
Options 4/5yrs/5%
AHHI 5Mi $62,500

Lease Highlights

  • Kohl’s has been operating in this location since 1998
  • The tenant has 8+ years remaining on the current lease term with 4 (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 guaranteed lease

Location Description

Kohl's is strategically located on Washington Pike, with access to 72,948 vehicles passing by daily. The property sits on a 32.655-acre parcel, featuring over 500 parking spots and a cell tower that generates $29,504 annually with 3% annual increases. Additionally, a Sephora store will soon be opening on-site. The immediate area is surrounded by well-known national tenants, including Target,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Kohl's
  • Guarantor:Corp T and Rated
  • Company:Kohl's Corporation
  • # Units:1,174
  • Tenant S&P: BB
  • Moody’s: Ba2
  • Stock: NYSE: KSS

About Tenant

Kohl's Corporation (Kohl’s) (NYSE: KSS) is an American department store retail chain that sells moderately-priced private and national brand apparel, footwear, accessories, beauty, and home...


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