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Mattress Firm, Lawton, OK

Mattress Firm

OK, United States

Price $2,085,000
Cap Rate
NOI
Lease Term 11 Years
Lease Type Net, with Landlord Responsible for Roof and Structure
Rental Increases 10% Rental Increases Every 5 Years
Year Built 2017
Building Size 4,000 SF
Lot Size 0.77 Acres (33,662 SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

LONG-TERM NET LEASE TO STRONG CORPORATE TENANT
» 11-year net lease with 10% rental increases every five years, providing a hedge against inflation
» Guaranteed by Mattress Holding Corp. – rated “B1” by Moody’s
» Largest mattress retailer in the U.S., with more than 3,600 locations nationwide and over $2.54 billion in annual revenue

EXCELLENT LOCATION IN REGIONAL RETAIL HUB
» Outparcel to Lawton Town Center, Lawton’s newest retail development, which spans 17 city blocks and features Kohl’s, Dick’s Sporting Goods, Bed Bath & Beyond, and a 162- room Hilton Garden Inn
» Less than a mile from Central Mall, the premier shopping destination in Southwest Oklahoma
» Lawton serves as the primary shopping, medical, recreational, educational, and religious center for Southwest Oklahoma

CLOSE PROXIMITY TO MAJOR NEW DEVELOPMENTS
» Near Cameron University, the largest four-year, state-funded university in Southwest Oklahoma, with an enrollment of over 5,500 students
» Minutes from Comanche County Memorial Hospital (283 beds and 2,000 employees) and Southwestern Medical Center (199 beds and 300 employees)
» Just over a mile from Fort Sill, the largest employer in the region, with approximately 20,000 military and civilian personnel and an annual economic impact of $2 billion

NEW 2017 CONSTRUCTION
» High-quality construction completed in Q3 2017
» New building, limiting near-term deferred maintenance or capital costs
» Built to tenant’s exact specifications and features the latest Mattress Firm store designs and concepts

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is conveniently located at the entrance to Lawton Town Center, with excellent visibility and access to 12,800 vehicles per day on Northwest Second Street, a major commercial arterial connecting Interstate 44 and downtown Lawton. The property benefits from immediate access to Interstate 44 (34,515 AADT) and Cache Road (32,507 AADT) to the north and access to Gore Boulevard (25,124 AADT) to the south. The property is outparcel to Lawton Town Center, Lawton’s newest retail development, covering 17 city blocks in the center of Lawton. Lawton Town Center is anchored by Kohl’s, Dick’s Sporting Goods, and Bed Bath & Beyond and features national retailers Ulta, Petco, Dollar Tree, Charming Charlie, AT&T, and a 162-room Hilton Garden Inn. The property is also less than a mile from Central Mall, the premier shopping destination in Southwest Oklahoma. The mall is anchored by JCPenney and Dillard’s and features more than 80 stores and services.

The property is centrally located near downtown Lawton and is minutes from major universities, hospitals, and employers. Cameron University, the largest four-year, state-funded university in Southwest Oklahoma, is located approximately two and a half miles from the property. The university has an enrollment of over 5,500 students and employs 600 staff members. Adjacent to Cameron University is Comanche County Memorial Hospital, a 283- bed hospital with approximately 2,000 employees. The property is also just over a mile from Fort Sill, the largest employer in the region. Fort Sill employs approximately 20,000 military and civilian personnel and has an annual economic impact of $2 billion.

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