Shopping Neighborhood
Kohl's Anchored Shopping Center
325 Lafayette Rd, Seabrook, NH 03874
Listing Price: $8,864,592
Investment Overview
The subject property is a Kohl’s anchored shopping center located in Seabrook, NH. The property consists of 101,184 square feet of retail space that sits on 13.24 acres of land. Kohl’s has been operating at this location since 2009 when they exercised a brand new 20-year absolute NNN ground lease for their building. The lease also includes eight five-year options with 10% increases at the beginning of each option. Kohl’s Corporation guarantees the lease with Fitch BBB credit. Kohl’s accounts for 90% of the gross leasable area which includes 90,184 square feet of space a portion of which is currently sublet to Planet Fitness as part of their national partnership. It is also anticipated that a new Sephora store will open within the Kohl’s space in July 2023 adding an additional draw to the center as there are currently only 2 Sephora locations in the state. The remainder of the shopping center totaling approximately 11,000 square feet is leased to Professional Physical Therapy and Atlantic Coast Surgical Suites both specializing in outpatient care.
Kohl's Anchored Shopping Center
Investment Highlights
- Kohl's Anchored Shopping Center | Fitch Rated BBB Guaranty | Shadow Anchored by Lowe's Home Improvement
- Kohl's Sublease to Planet Fitness Driving Additional Traffic to Shopping Center | Sephora Store to Open in July
- 6.75 Years Remaining on Kohl's Ground Lease | Lease Creates Extremely Low Cost Basis
- Medical Co-Tenants Diversify Income Stream and Consumer Base | Adjacent Outparcels West Marine, Chili's and Irving Provide Both Convenience and Destination Cross Shoppers
- New Hampshire is Both State Income and Sales Tax Free Driving Significant Consumer Demand from Massachusetts Residents
Listing Price: $8,864,592
Investment Highlights
- Kohl's Anchored Shopping Center | Fitch Rated BBB Guaranty | Shadow Anchored by Lowe's Home Improvement
- Kohl's Sublease to Planet Fitness Driving Additional Traffic to Shopping Center | Sephora Store to Open in July
- 6.75 Years Remaining on Kohl's Ground Lease | Lease Creates Extremely Low Cost Basis
- Medical Co-Tenants Diversify Income Stream and Consumer Base | Adjacent Outparcels West Marine, Chili's and Irving Provide Both Convenience and Destination Cross Shoppers
- New Hampshire is Both State Income and Sales Tax Free Driving Significant Consumer Demand from Massachusetts Residents
Investment Overview
The subject property is a Kohl’s anchored shopping center located in Seabrook, NH. The property consists of 101,184 square feet of retail space that sits on 13.24 acres of land. Kohl’s has been operating at this location since 2009 when they exercised a brand new 20-year absolute NNN ground lease for their building. The lease also includes eight five-year options with 10% increases at the beginning of each option. Kohl’s Corporation guarantees the lease with Fitch BBB credit. Kohl’s accounts for 90% of the gross leasable area which includes 90,184 square feet of space a portion of which is currently sublet to Planet Fitness as part of their national partnership. It is also anticipated that a new Sephora store will open within the Kohl’s space in July 2023 adding an additional draw to the center as there are currently only 2 Sephora locations in the state. The remainder of the shopping center totaling approximately 11,000 square feet is leased to Professional Physical Therapy and Atlantic Coast Surgical Suites both specializing in outpatient care.
