Investment Overview

The PeopleReady property located at 670 Edgewood Avenue N in Jacksonville, Florida presents an attractive opportunity to acquire a single-tenant net-leased asset occupied by PeopleReady, Inc., a subsidiary of publicly traded TrueBlue, Inc. (NYSE: TBI). The property is offered at $825,000, representing a 6.13% capitalization rate, with current annual base rent of $51,374. PeopleReady recently exercised a five-year lease renewal, demonstrating continued commitment to the location, with 3% annual rent increases providing investors with predictable income growth and a hedge against inflation. The lease is structured as a Modified NNN (Double Net) lease, with the landlord primarily responsible for roof, structure, and capital items, limiting ownership responsibilities and providing relatively passive cash flow. The property consists of approximately 2,263 square feet on 0.65 acres and benefits from a highly visible location along Edgewood Avenue with convenient connectivity to Jacksonville's major transportation corridors. PeopleReady continues to actively operate its Jacksonville branch from this location, and the company maintains a national platform of 400+ local branches and service teams across all 50 states, providing staffing solutions to more than 54,000 businesses annually. With contractual annual rent growth, an established national tenant, limited landlord responsibilities, and an additional five-year renewal option, the offering provides investors an opportunity to acquire a manageable single-tenant asset with increasing contractual income in the Jacksonville market