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Views: 110 DOM: 107 Updated: 11.25.24 Posted: 09.05.24 Status: Active

Summary

Price $16,100,000
Built/Renov 2024
Tenant Kohl's
Cap Rate 6.41%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 55,131
Lease Start 09-15-2024
#Units 1,174
Price/SF $292.03
Expiration 01-31-2037
Tenant Type Big Box Retail
NOI $1,031,250
R. Term 12.1
Ownership Fee Simple
Rent/SF $18.71
Increases 2.0%/1/yrs
Pop 5Mi 121,602
Lot/AC 4.60
Options 7/5yrs/2%
AHHI 5Mi $128,594

Lease Highlights

  • Brand new 2024 construction
  • The tenant recently signed a new 12-year lease with 7 (5-year) options to extend
  • The lease features 2% annual increases beginning in year 3 and continuing throughout the remainder of the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease (NYSE: KSS)

Location Description

Kohl's is strategically located on Sun Vista Drive and serves as an outparcel to the Tampa Premium Outlets, a retail center featuring well-known national tenants such as Nike, Adidas, Under Armour, Chick-fil-A, and more. The outlets rank in the 96th percentile among shopping centers nationwide, attracting over 5.5 million annual visits (according to Placer.ai). Additionally, the adjacent At...

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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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