Overview

Description

Northmarq is pleased to offer the fee simple interest PetSuites located in Baton Rouge, LA (the “Property”). PetSuites is operating under a Absolute NNN lease expiring on May 31, 2039. With an annual rent is $381,769 with five (5), five (5) year options with a 12% increase every five (5) years. The Absolute NNN lease structure provides for a passive, secure investment with zero landlord’s responsibilities.

PetSuites has been the leader of the pack in pet resorts, offering exceptional services for both dogs and cats, ranging from boarding and daycare to grooming and training for over 20 years. Their trusted team of professionals delivers memorable experiences with personalized service to meet the unique needs of each pet in fun, convenient, and modern spaces. They offer premium amenities including large, open indoor and outdoor play yards, in-ground pools, and unique play structures. In March 2015, PetSuites was acquired by National Veterinary Associates, Inc, the largest private owner of free-standing veterinary hospitals and boarding facilities in the world with over 1,400 locations.

Highlights

• Corporate Guarantee
• June 2024 Rental Increase
• 2019 Build-to-Suit Construction
• Rent Escalations every 5 years
• Absolute NNN, No Landlord Responsibilities
• Strong Demographics

Documents

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