Sunbelt Rentals | 2024 Build-Out Newly Renovated
Publicly Traded | 41,144 SqFt | 6.51 AC
Marketing description
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, Sunbelt Rentals investment property located in Statesboro, Georgia. The tenant currently has 7+ years remaining on their initial lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features annual rental increases of 3% in years 4-5 (March 2027) and then 2% throughout the initial term and options thereafter, steadily growing NOI and hedging against inflation. The lease is a modified NNN with landlord responsibilities limited to roof and structure making it an ideal, low-management investment opportunity for a passive investor. Sunbelt Rentals passionate, customer-centric team of 24,000 employees combines execution-focused resolve with Sunbelt Rentals’ innovative array of rental solutions across a vast network of nearly 1,600 locations and with a fleet of assets exceeding $19 billion.
The subject property is located along US-301 which averages 19,700 vehicles passing by daily. The site is ideally located in a dense retail corridor, with numerous nearby national/credit tenants including Publix, Walmart Neighborhood Center, McDonald’s, Family Dollar, Advance Auto Parts and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The asset is in close proximity to Georgia Southern University (29,000 students) further increasing consumer traffic to the immediate trade area. The 5-mile trade area is supported by a population of over 50,000 and 22,000 employees, providing a direct consumer base from which to draw. Residents within a 5-mile trade area have an average household income of $69,028.
Investment highlights
- Publicly Traded, Institutional-grade Tenant Credit | Mission-Critical Regional Equipment-Rental Hub
- Modified NNN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
- Dense Retail Corridor | Strong National/Credit Tenant Presence | Georgia Southern University (29,000 students)
- Improvements & Warranties | Effectively a 2024 Facility
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