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Mattress Firm, Kent, OH

Mattress Firm

OH, United States

Price $2,125,000
Cap Rate
NOI
Lease Term 11 Years
Lease Type
Rental Increases Average 10% Rental Increases After Year 5 and in Options
Year Built 2016
Building Size 4,000 sq. ft.
Lot Size 0.69 Acres (30,056 sq. ft.)
Status Available
Lead Broker Information Scott Crowle
Senior Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Investment Highlights

LONG-TERM NET LEASE WITH SCHEDULED RENTAL INCREASES
» Brand new 11-year lease with two five-year option periods
» 10% rental increases after year five
» Rental increases provide a hedge against inflation
NATIONAL TENANT WITH STRONG FINANCIALS
» Mattress Firm has a “B1” credit rating from Moody’s
» Largest mattress retailer in the U.S., with over 3,500 locations nationwide, and continuously expanding
» Over $1.8 billion in annual revenue

EXCELLENT KENT LOCATION NEAR MAJOR NATIONAL RETAILERS
» Located in large retail plaza with Walmart Supercenter, Lowe’s, Kohl’s, Marshall’s, and many others
» Located in densely populated area, with 120,468 people within a five-mile radius
» Close proximity to Kent State University, one of the largest employers in the region and one of the largest universities in Ohio

BRAND NEW 2016 CONSTRUCTION
» High quality built-to-suit construction
» Features latest Mattress Firm prototype
» Brand new construction, limiting near-term deferred maintenance or capital costs

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located at a hard corner intersection, just off of Tallmadge Road, which has a traffic count of 13,898 vehicles per day. Access to Interstate 76, which connects Kent to Akron, is half a mile from the site. Interstate 76 boasts a traffic count of 57,580 vehicles per day. The property benefits from its excellent location in a large retail plaza, which includes Walmart Supercenter, Lowe’s, Kohl’s, Marshall’s, and other major national retailers.

The site is centrally located between downtown Akron and downtown Kent. Downtown Akron is approximately ten miles from the property by car, while downtown Kent and Kent State University are less than a six mile drive from the property. Kent State University is one of the largest employers in the region, and has an enrollment of 30,067 students at the Kent campus.

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