Heritage Pool Supply | SRS Distribution | Home Depot
NNN | Below Market Rent
Marketing description
Investment highlights
• Fully Leased to Heritage Pool Supply Group
- Wholly Owned Subsidiary of SRS Distribution | Heritage Supply Brand
• One of the Largest and Fastest Growing Pool Supply Distributors
- 150+ Locations Across 36 States | Rapid Expansion Since 2021
• Parent Company Recently Acquired by Home Depot (NYSE: HD)
- SRS Distribution was Acquired in 2024 for Approximately $18.25B
• Original 5-Year NNN Lease | Minimal LL Responsibilities
- 11% Rental Increase in the Remaining Five-Year Option | April ‘27
• Longstanding Tenant with 15+ Years of Historical Occupancy
- Established Market Presence | Continued Lease Renewals
• Below Market Rents with Near-Term Future Upside
- Current Rents: $8.47/ft | CoStar Estimated Market Rents: $13.49/ft
• Florida’s Space Coast Home to Top Space/Aeronautics Companies
- SpaceX, Blue Origin, Boeing, Lockheed Martin & L3 Harris
• Melbourne, FL MSA | One of the Fastest Growing Areas in FL
- Over 250,000 Residents within a 10-mile Radius
• Florida is an Income Tax Free State
- Ideal Passive Investment for Out of Market Ownership
• Surrounded by National Industrial Tenants in Dense Trade Area
- TruGreen Lawn Care, Gulfeagle Supply, 84 Lumber, ProSource, Etc.
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