Fort Worth, TX - Boot Barn

Highlights:

• New 10 Year Lease | Options To Extend | Scheduled Rental Increases
• NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
• Fort Worth Stockyards Station | Dense Retail Corridor
• Strong Demographics In 5-Mile Trade Area
• Rare Dallas-Fort Worth Retail Opportunity | Stockyards Tourism | High Barriers To Entry
• Signalized, Hard Corner Intersection | Excellent Visibility & Access

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, Boot Barn investment property located in Fort Worth, Texas. The tenant, Boot Barn, Inc recently signed a brand new 10 year lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual increases throughout the initial term and throughout 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.

The Boot Barn is located near the signalized, hard corner intersection of North Main Street and East Exchange Avenue which combine to average over 25,000 vehicles passing by daily. North Main Street, is a major retail thoroughfare serving the city of Fort Worth. The asset is in close proximity to the Fort Worth Stockyards, which attracts over 9 million visitors annually. The Fort Worth Herd cattle drive brings in over 800,000 visitors to the immediate trade area annually. Furthermore, the Stockyards are undergoing Phase 1 of a $200 million redevelopment plan, aiming to expand the area’s retail and entertainment areas. The asset is near Fort Worth Stockyards Station, a 173,332 SF shopping mall featuring over 20 shops and restaurants. In addition, Boot Barn is less than 4 miles from Montgomery Plaza, a Target-anchored shopping center that features national/credit tenants such as Office Depot, Chick-fil-A, PetSmart, Wingstop, Five Below, and others. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, Tom Thumb, Chick-fil-A, Whataburger, McDonald’s, Starbucks, Taco Bell, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 224,800 with an average household income of $94,671 and over 203,000 employees, providing a direct consumer base from which the asset can draw upon.