8+ Years Remaining | Corporate Guaranteed Lease | Investment Grade Tenant | Scheduled Rental Increases
- Lowe’s has more than 8 years remaining on their 15-year lease extension with 10 (5-year) options to extend, demonstrating their long-term commitment to the site
- The lease is guaranteed by Lowe’s Companies, Inc., the second-largest hardware chain in the world with more than 2,200 locations
- Lowe’s is an investment grade tenant (S&P: BBB+)
- The lease includes 10% rental increases at the beginning of each option to extend, increasing NOI and hedging against inflation
Previously Full-Size Lowe’s | First Lowe’s Outlet In TX - This location was previously a full-size Lowe’s store that closed in 2019 until a recent rebranding to become the first “Lowe’s Outlet” in Texas
- Lowe’s Outlet offers discounted merchandise that has minor cosmetic damage and priced 25% to 70% off
- This store carries more than 1,000 new, carefully inspected scratch-and-dent appliances as well as small selection of appliance accessories, such as dryer vents and refrigerator filters
Absolute NNN Ground Lease | Land Ownership | Zero Landlord Responsibilities | No State Income Tax- Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
- No landlord responsibilities
- Investor benefits from fee-simple ownership of the land
- Ideal management-free investment in a state with no state income tax