TJ Maxx / Staples

Highlights:

• STRONG LOCATION. Prime two-tenant anchored center adjacent to a 172,419 square foot Super Target store and located in the primary retail node of Mason City which has more than 27,400 residents.
• CAPTIVE MARKET. TJ Maxx’s and Staples’ stores in Mason City are located more than 75 miles from their next closest stores.
• PROVEN STORE PERFORMANCE. Staples has been operating at this location since 1996 and most recently exercised its five (5) year renewal option at the higher stated option rent with a lease expiration of May 31, 2022.
• EXPANDING TENANT BASE. TJ Maxx opened its store at this location in 2016 and its ten (10) year primary term expires on August 31, 2026.
• BENIGN CO-TENANCY. Staples has no co-tenancy clause in its lease; TJ Maxx has no co-tenancy provision associated with Staples.
• STRONG INCOMES AND EXCEPTIONAL INCOME GROWTH. Projected average household incomes within a 1-mile radius of the property exceed $115,900 indicating significant discretionary dollars available for consumer shopping with incomes projected to grow annually by 4.9%.
• UNENCUMBERED ASSET. TJ Maxx/Staples is being offered to the marketplace free and clear of any existing debt.

Description:

Shadow anchored by Super Target, the Property was built in phases (1996 & 2016) and is located at the signalized northwest corner of 4th Street SW and Roosevelt Avenue in Mason City. 100% of the Property’s income is generated from national credit tenants with staggered lease expirations in 2022 and 2026.

This offering represents a rare opportunity for an investor to purchase a well-located, Class A two-tenant shopping center in the Mason City retail trade area.