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JUST LISTED: Single Tenant Hobby Lobby
New 10-Year Lease Extension | "A" Real Estate
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Investment Highlights
- Price: $7,480,000
- 6.25% cap
- Single Tenant NNN (R&S)
- Established 10 Year Occupancy
- New 10 year lease extension
- High sales volume store
- Corporate guaranteed lease
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Location Highlights
- Target anchored center
- #1 retail corridor in county
- 35% Population Growth
- Adjacent to Robins Air Base
- Significant new development
- Across from Houston Country Galleria - 92% occupancy
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Opportunity: Pegasus
Investments is pleased to offer a single tenant corporate guaranteed Hobby
Lobby store located along the #1 retail corridor in Warner Robins, Georgia (the
“Property”). After 10
years of strong historical occupancy, Hobby Lobby entered into a new 10 year
lease extension commencing in March 2017 and expiring in March 2027. It is
important to note that not only did the Landlord not provide any rent
concession to the tenant in order to achieve a 10 year extension, but the
tenants rent increased upon entering into the extension. The Landlord did agree
to hold the new increased rent flat for the next 10 years as well as perform
some minor capital upgrades to the property. In contrast to other newly
constructed Hobby Lobby stores which do not have any sales history, the subject
property provides an investor with the peace of mind that this is a highly
successful, established operation.
Location: Prominently situated along Watson Blvd. in the heart of the retail trade area across from the 500k SF Houston County Galleria, the property co-anchors the Willow Creek Shopping Center alongside Target, Office Depot, JoAnn, and Academy Sports (which recently back-filled a Kroger that moved across the street into a brand new Marketplace flagship concept).
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David B. Chasin Managing Director (310) 691-1350 x101 BRE Lic 01513027 |
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Daylin Ackerman Associate (310) 691-1350 x114 BRE Lic 02011508 |
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Tony Veiller Sr. Analyst
(310) 691-1350 x113 BRE Lic 01995952 |
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Ken Chasin Founder
(310) 691-1350 x100 BRE Lic 01995952 |
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Pegasus Investments Real Estate Advisory Inc. | BRE License Number 01961545
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