Krispy Kreme - Kingsport, TN
Prominent East TN Location | 6.23% CAP | Corporate | Abs.NNN
Investment highlights
Adjacent to Eastman’s global HQ & Leading U.S. Manufacturing Facility — Eastman Chemical’s +900-acre HQ facility is the region’s leading employer & is one of North America’s largest manufacturing sites.
Premier Location & Major Retailers Nearby — located in the heart of Kingsport, TN, this site is surrounded by national retailers such as Five Below, Target, Kroger, Ross Dress for Less, Lowe’s Home Improvement, Home Depot, Chick-fil-A, & many other prominent retailers.
Absolute Net (Abs.NNN) Lease Structure — zero landlord responsibilities.
Strong Lease Fundamentals — eight (8) years remaining on the initial lease term with twenty (20) years worth of renewal options.
Corporate Guarantee — lease is guaranteed by Krispy Kreme Doughnut Corp. (BYSE: DNUT).
10% Rental Increases — buyer will capitalize on increased returns every 5 years during the initial term & in each renewal period.
High-Growth Market — Kingsport is part of the larger “Tri-Cities” region of Northeast Tennessee. This area has seen record population growth for the second consecutive year, quadrupling its growth rate prior to 2020.
Adjacent to Notable Tennessee High School — located minutes from Dobyns-Bennett High School in Kingsport, the 5th largest high school in TN.
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