Defiance, OH - T-Mobile

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, newly built, freestanding,
T-Mobile investment property located in Defiance, OH. The tenant recently signed a brand new 10-year lease with 2 (5-year) option periods to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and options, growing NOI and hedging against inflation. The lease is signed by the corporate entity (NASDAQ: TMUS | S&P: BBB) and is NN with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. Founded in 1999, T-Mobile is among the largest wireless carriers with over 125.9M subscribers as of Q2 2024.

T-Mobile is strategically located along Clinton Street with clear visibility and access to an average of 27,200 vehicles passing by daily. The asset also benefits from nearby access to State Highway 15 (10,700 VPD) and U.S. Highway 24 (20,200 VPD), making this a centralized location with easy access. The asset is ideally situated within a dense retail trade area and is directly across from Northtowne Mall, a 625K+ SF Regional Mall. The surrounding national/credit tenants include Walmart Supercenter, ALDI, Lowe’s, Meijer, Kohl’s, Menards, Kroger, and others. The strong tenant synergy drives a loyal, local consumer base to the area, provides crossover exposure, and contributes to the local economy. Furthermore, the property is near numerous single-family communities and multi-family complexes including Ralston Square (50 units), Arlington Place (64 units), Winthrop Terrace of Defiance (80 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 21,600 residents and 13,300 daytime employees, with a healthy average household income of $83,843.