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Wesley Chapel (Tampa), FL - Kohl's
1854 Sun Vista Dr | Wesley Chapel, FL 33559
Description
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, corporate guaranteed
(NYSE: KSS), Kohl’s investment property located in Wesley Chapel, Florida (Tampa MSA). The tenant, Kohl’s Inc., recently signed a brand new 12 year lease with 7 (5-year) options to extend, demonstrating their commitment to the site. The lease features 2% rental increases, beginning in year 3, throughout the initial term and each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.
Location
The asset has excellent position as an outparcel to the Tampa Premium Outlets, featuring 414K+ square foot of retail space occupied by tenants including Nike, Adidas, Under Armor, and, Chick-fil-A, McDonald’s, and Starbucks pads. The outlets rank in the 96th percentile among shopping centers nationwide with 5.5M+ annual visits
(per Placer.ai), while the adjacent At Home store is the top peforming site in the state (per Placer.ai). The site will receive significant crossover retail exposure from the outlets in addition to nearby tenants including Costco, Total Wine, Burlington, and Hobby Lobby. The subject property is directly accessible via State Road 54/56
(77,000 VPD) and is nearby on/off ramps of Interstate 75 (122,500 VPD), a major north/south traveling highway that connects the site directly to downtown Tampa, the third largest city in the state with 400K+ residents. The immediate area is supported by a dense, affluent consumer base consisting of many residential and apartment communities. The 5-mile trade area is supported by a population of over 121,600 residents and 41,700 employees with an average household income of $128,594.
Demographics | 1 Mile | 3 Miles | 5 Miles |
|---|---|---|---|
| Population | 1,584 | 43,859 | 121,602 |
Traffic Counts | |
|---|---|
| Interstate 75 | 122,500 VPD |
| State Road 54/56 | 77,000 VPD |
| Wesley Chapel Boulevard | 22,500 VPD |
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]
Patrick Luther
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]
Patrick Nutt
Sr Managing Principal & Co-Head of National Net Lease
954.302.7365954.302.7365[email protected]