Columbus, OH - Lowe's

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, investment grade, corporate signed, Lowe’s Home Improvement investment property located in Columbus, Ohio. The tenant, Lowe’s Home Centers, LLC, recently extended their lease an additional 10 years with 6 (5-year) options to extend, demonstrating their commitment to the site. The lease features 5% rental increases every 5 years throughout the initial term and option periods, 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 Lowe’s is located along Brice Rd, which averages 45,800 vehicles passing by daily and is a major retail thoroughfare serving the city of Columbus. The property
is located 2 miles southwest of Taylor Square, a 673,000 square foot shopping center with major tenants including a Walmart Supercenter, Sam’s Club, Marshalls, JOANN’s, Best Buy, and more. The asset is adjacent to Brice Park, a 158,000 square foot shopping center with major tenants including Michaels, Family Dollar, Dollar Tree, and more. In addition, Lowe’s is positioned west of Hunters Run Centre, a 172,000 square foot shopping center anchored by Barnes & Noble and Outlet by La-Z-Boy. The property is in the center of a primary retail corridor with other nearby national/credit tenants including The Home Depot, Kroger, Big Lots!, Walgreens, Planet Fitness, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 236,900 with an average household income of $82,936.