Kohl's
Retail | 6.00% CAP | 88,408 SqFt
Marketing description
SRS Real Estate Partners-West, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, Kohl's investment property located in Surprise, Arizona. The tenant, Kohl's, has over 6 years of initial term remaining with 8 (5-year) options to extend, demonstrating their commitment to the site. The lease features 7.5% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. Additionally, the tenant's rent is well below market at $9.33 PSF, providing investors with significant rent growth potential. The property's roof was replaced in 2022 and has ~6 years remaining on the roof warranty.
Investment highlights
- Kohl's corporate-guaranteed lease
- 6+ years remaining with 8 (5-year) option periods to extend
- The lease features 7.5% rental increases at the beginning of each option
- The tenant's rent is well below market at $9.33 PSF, providing investors with significant rent growth potential
- The property's roof was replaced in 2022 and has ~6 years remaining on the roof warranty
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