Miscellaneous
Aaron's
422 SE 10th Ave, Hillsboro, OR 97123
Listing Price: $2,065,000
Investment Overview
The subject property is a freestanding Aaron’s store located at the signalized corner of SW 10th Avenue & SE Oak Street in the heart of Hillsboro, Oregon. Hillsboro is the county seat of Washington County, with a reported 107,000 residents, making it the 5th largest city in Oregon.
The Property is ideally positioned nestled between a dense residential subdivision and a mix of retail businesses. The Property is 1 block off of SE Baseline Street, a main conduit through Beaverton/Hillsboro and 2 blocks away from Portland Community College and Tuality Medical Center. Reported daily traffic count at this signalized intersection in excess of 27,000/vehicles.
In 2012, an established Aaron’s franchisee signed a 20 year absolute NNN lease with 10% fixed rent increases every 5 years. The lease was then assigned to The Aaron’s Company, Inc. October 29, 2018. The building is equipped with +/-10,369 sq. ft. of retail showroom space and on-site parking of 20 spaces with cross-easement agreement with the adjacent Dunes Motel for Aaron’s customers to have access to another 16 spaces.
Founded in 1955, and with their headquarters in Atlanta, Georgia, The Aaron’s Company, Inc. is a leading technology-enabled, omnichannel provider of lease-to-own and retail purchase solutions of appliances, electronics, furniture and other home goods across its brands: Aaron’s, BrandsMart, U.SA., BrandsMart Leasing, and Woodhaven.
Aaron’s operates approximately 1,210 locations in 47 states and Canada, as well as its e-commerce platform. It’s currently under agreement to be sold to IQVentures who has substantial experience and expertise in all aspects of consumer and business financing and leverages proprietary technology and shared services to help drive value for the companies it acquires. For more information, visit www.iqventures.com
Investment Highlights
- Corporate backed lease with The Aaron's Company, Inc. (NYSE:AAN)
- Over 8 years remaining on absolute NNN lease
- Attractive 10% fixed rent increases every 5 years
- Corner location at signalized intersection with on-site parking
Exclusively Listed By
Broker of Record
Listing Price: $2,065,000
Investment Highlights
- Corporate backed lease with The Aaron's Company, Inc. (NYSE:AAN)
- Over 8 years remaining on absolute NNN lease
- Attractive 10% fixed rent increases every 5 years
- Corner location at signalized intersection with on-site parking
Investment Overview
The subject property is a freestanding Aaron’s store located at the signalized corner of SW 10th Avenue & SE Oak Street in the heart of Hillsboro, Oregon. Hillsboro is the county seat of Washington County, with a reported 107,000 residents, making it the 5th largest city in Oregon. The Property is ideally positioned nestled between a dense residential subdivision and a mix of retail businesses. The Property is 1 block off of SE Baseline Street, a main conduit through Beaverton/Hillsboro and 2 blocks away from Portland Community College and Tuality Medical Center. Reported daily traffic count at this signalized intersection in excess of 27,000/vehicles. In 2012, an established Aaron’s franchisee signed a 20 year absolute NNN lease with 10% fixed rent increases every 5 years. The lease was then assigned to The Aaron’s Company, Inc. October 29, 2018. The building is equipped with +/-10,369 sq. ft. of retail showroom space and on-site parking of 20 spaces with cross-easement agreement with the adjacent Dunes Motel for Aaron’s customers to have access to another 16 spaces. Founded in 1955, and with their headquarters in Atlanta, Georgia, The Aaron’s Company, Inc. is a leading technology-enabled, omnichannel provider of lease-to-own and retail purchase solutions of appliances, electronics, furniture and other home goods across its brands: Aaron’s, BrandsMart, U.SA., BrandsMart Leasing, and Woodhaven. Aaron’s operates approximately 1,210 locations in 47 states and Canada, as well as its e-commerce platform. It’s currently under agreement to be sold to IQVentures who has substantial experience and expertise in all aspects of consumer and business financing and leverages proprietary technology and shared services to help drive value for the companies it acquires. For more information, visit www.iqventures.com