Property History
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Investment Highlights
- La-Z-Boy Corporate Guaranteed Lease with over (6) Years Remaining on Term
- 5% Rental increases throughout the initial term and option periods, generating healthy NOI growth
- Tenant paid full rent throughout COVID shutdown with no deferral
- La-Z-Boy has written same-store sales increased 14.8% for the fiscal 2021 first quarter o Initial decline in May of 13% offset by 30% increase in June & 32% increase in July
- La-Z-Boy ended the quarter with $336.7 million in cash on hand
- Additional Billboard rental income from new Lamar Companies (NYSE: LMAR) 15-year lease.
- Double Net (NN) structure with limited Landlord responsibilities
- Long term branding of the subject property as a furniture store in the local community (previously a Gish’s Furniture before La-Z-Boy conversion)
- Over the past 5 years, La-Z-Boy has seen a sales increase of $310 million, and operating income increase of over $60 million, and a 65.6% increase in the share price.
Loan History
Financial History
Tax History
Contact Information
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Ownership Information
Zoning
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Property Details
Contacts
Sold on
BY:
Derrick Dougherty PRO
•••.•••.7026
••••••erty@•••••••••••••••.com
Sold on
BY: Steve Garthwaite
•••.•••.7025
•••••.••••••aite@•••••••••••••••.com
Listing removed on
BY:
Abe Khan PRO
•••.•••.8589
•khan@••••••••.com
Listing removed on
BY:
Craig Dunkle PRO
•••.•••.4881
•••nkle@•••••••••••••••.com
Listing removed on
BY:
Mher Vartanian
•••-•••-1234
••••••nian@•••••••••••••••.com
Listing removed on
BY: Piruz Partow
•••.•••.1768
•••rtow@•••••••••••••••.com
Listing removed on
BY:
Phil Sharrow PRO
•••.•••.4400
•••••ting@••••••••.com
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