Savers
NNN | BRAND-NEW 10 YR TERM | CORP LEASE
Marketing description
Current Real Estate Advisors is pleased to present the opportunity to acquire Savers (the "Property"), an exceptionally well-located ±38,685 SF freestanding building situated on approximately 4.24 acres, located in O'Fallon (STL MSA), MO. The Property is strategically positioned along State Highway K (33.5K+ VPD) – connecting north to I-70 and south to I-64, for direct accessibility to the center of Downtown St. Louis.
The Property is secured by a newly inked net lease, with limited landlord responsibilities, with ±10 years of a brand-new lease term. Further, it includes various attractive increases every 5 years (see Page 5), as well as 3, 5-year options – demonstrating corporate commitment to the location. The lease is corporately guaranteed by Savers Value Village Inc. (NYSE: SVV), which creates visibility of their financial performance, which has increased year over year.
The Property presents a unique opportunity for an astute investor to acquire a property with long term stability, stable cash flow and excellent underlying real estate fundamentals on an oversized parcel for additional future reversion value.
Investment highlights
- Brand-New Corporate Tenancy - Savers' net lease will feature 10 years of primary term with built-in rent increases and 3, 5-year renewal options, with a lease guaranteed by Savers Value Village, Inc. (NYSE: SVV)
- Secure + Steady Income Stream - The net lease structure provides predictable, hands-off cash flow, with limited landlord obligations, delivering durable passive income and a hedge against inflation
- Substantial Investment into the Property - The Property benefits from a large investment by the tenant, demonstrated by them spending ~$3MM+ in capital improvements prior to opening for operations – including an addition of a new loading dock with rollup doors and industrial-grade waste management system
- Affluent & Strong Demographics - This asset is located in O'Fallon, which has been highlighted in the news as the #2 best place to live in MO, and has affluent demographics demonstrated by an average household income of $131,342 within a 3-mile radius
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