Moon Valley Nurseries
Just Listed: Texas Moon Valley Nurseries | NNN Lease with 3% Annual Increases | Covered Land Play
Marketing description
CBRE's Houston Net Lease Property Group is pleased to exclusively offer for sale 3969 US-290 ("the Property"), which is comprised an 4.9-acre nursery located in Dripping Springs, Texas, just 30 minutes from Austin. The Property is 100% leased to Moon Valley Nurseries with approximately 6 years remaining on an Absolute NNN Lease which features 3% annual rent escalations throughout the initial term and in each of the three (3) 5-year renewal options, providing a long-term, passive investment with built-in inflation hedges.
Founded in Phoenix, Arizona in 1995, Moon Valley Nurseries is the largest fully-integrated nursery and box tree grower in the U.S., now operating 19 farms and 48 retail locations across Arizona, California, Nevada, Florida, Tennessee and Texas, with more than 5,000 acres of nursery property. The company continues aggressively expanding its national footprint with the goal of reaching $1B in revenue by 2029.
Investment highlights
Largest Box Tree Grower in the Nation
- Founded in Phoenix, Arizona in 1995, Moon Valley Nurseries is the largest fully-integrated nursery and box tree grower in the U.S., now operating 19 farms and 48 retail locations across Arizona, California, Nevada, Florida, Tennessee and Texas, with more than 5,000 acres of nursery property. As of December 31, 2022, the company reported annual sales in excess of $320 million.
Absolute NNN Lease with 3.0% Annual Increases
- The Absolute NNN lease has more than 6 years of term remaining with three (3) 5-year renewal options. The lease also features a corporate guaranty from Moon Valley Nursery Consolidated Holdings, LLC and rare 3.0% annual rent increases throughout the initial term and during each option.
Affluent Demographics
- Located 25 minutes from Downtown Austin, the area within a 5-mile radius of Moon Valley is home to nearly 35,000 residents, earning an average household income of approximately $210,000 annually, and 68% of the population have attained a bachelor’s or more advanced degree.
Superior Access & Explosive Development
- With Frontage along Highway 290, the Property benfites from exposure and access to more than 38,000 VPD and is surrounded by a multitude of companies and industries, with 4.2M square feet of commercial space and within a 5-mile radius, 45% of which was constructed in the last 10 years.
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