Miscellaneous

PetSuites of Houston | 10% Bumps Every 5 Years

8320 Copper Creek Ln, Missouri City, TX 77459

Listing Price: $5,690,000

Cap Rate
6.00%
Tenant Name
Pet Suites of America
Years Remaining On Lease
18.4
Guarantor
Corporate Guarantee
Rentable SF
14,240
Lease Type
Absolute Net
Rent Per Square Feet
$23.97

Investment Overview

Marcus & Millichap, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the 100% interest in new, build-to-suit, PetSuites absolute net lease investment located at 8320 Copper Creek Lane, Missouri City, Texas 77459 (the “Property”). Built in 2019, and delivered July 2019, the Property comprises a +/- 14,240 SF building on a highly visible +/- 1.70-acre parcel, that is strategically positioned to be easy to access for 56,000 vehicles per day at Highway 6, surrounded by residential and commercial development. The Property benefits from its highly relevant location with easy accessibility, and convenient retail location in a strong commercial area. Fort Bend County has a thriving corporate community with many Fortune 500 Companies and small businesses taking advantage of the county’s pro-business environment, fiscal strength, and educated workforce. The offering benefits from strong demographics with a population of 62,762 people and an average household income of $162,336 within three miles. The building is 100 percent occupied by PetSuites with over 70+ national locations, owned by National Veterinary Associates, Inc, an entity with over 500 locations, and owned by JAB Holdings Co. The lease will start once the tenant opens, expected December 2020, subject to a 20-year lease term and CPI rental increases every five years and in the five, five year options. PetSuites of America, a growing national pet resort, spa, and daycare chain, specializes in the boarding and grooming of dogs and cats. They currently have 70 locations in the United States, which include sites in Florida, Georgia, Indiana, Kentucky, Louisiana, North Carolina, Ohio, South Carolina, Texas, and Virginia. PetSuites has spent over 15 years developing and perfecting an enriching and healthy environment for beloved family pets. In June 2019 JAB Holding Co. agreed to buy a majority stake in NVA. JAB Holding Co. is owned by the Reimann family, one of the wealthiest in the world, according to Forbes. The company has a controlling interest in several companies such as Panera Bread, Krispy Kreme, Caribou Coffee, Dr. Pepper, Snapple, and many others.

Investment Highlights

  • Subject Property is a Build-to-Suit, 14,240 Square-Foot Building on a 1.70-Acre Lot, with 36 Parking Spots
  • Absolute NNN Lease with 20 Years Base Term and Zero Landlord Responsibility
  • Robust Traffic Counts from Highway 6 (55,773 VPD) and Five Miles from the I-69 Interchange
  • Surrounded by Affluent Suburban Housing with an Average Household Income of Over $145K within Five Miles and Strategically Located Between Sienna and Riverstone, Master-Planned Residential Communities
  • Tenant Pet Suites of America is Owned by National Veterinary Associates (NVA), Purchased in 2019 by JAB Holding Co. | JAB Holding Has a Credit Rating of A- by S&P
  • E-Commerce Resistant: PetSuites is Entirely Service-Based, Not Dependent Upon the Sale of any Pet Supplies or Soft Goods
  • Hot Commodity: Animal Adoption Through Q2 in 2020 is at Record Highs | An Estimated $99 Billion Will be Spent on Pets in the U.S. in 2020, Up From $95.7 Billion in 2019 (Source: AmericanPetProducts. org)
  • Located in Fort Bend County Which Has a Thriving Corporate Community, With Many Fortune 500 Companies and Small Businesses Taking Advantage of the County's Pro-Business Environment, Fiscal Strength and Educated Workforce

Exclusively Listed By

  • Jesse Limon

    Licensed Real Estate Salesperson

    (212) 430-5291

    Email Jesse

    License(s): IN: RB14048415, NY: 10401271892

    Manhattan

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    License(s): TX: 9002994

    Texas

Miscellaneous

PetSuites of Houston | 10% Bumps Every 5 Years

Listing Price: $5,690,000

Cap Rate
6.00%
Tenant Name
Pet Suites of America
Years Remaining On Lease
18.4
Guarantor
Corporate Guarantee
Rentable SF
14,240
Lease Type
Absolute Net
Rent Per Square Feet
$23.97

Investment Highlights

  • Subject Property is a Build-to-Suit, 14,240 Square-Foot Building on a 1.70-Acre Lot, with 36 Parking Spots
  • Absolute NNN Lease with 20 Years Base Term and Zero Landlord Responsibility
  • Robust Traffic Counts from Highway 6 (55,773 VPD) and Five Miles from the I-69 Interchange
  • Surrounded by Affluent Suburban Housing with an Average Household Income of Over $145K within Five Miles and Strategically Located Between Sienna and Riverstone, Master-Planned Residential Communities
  • Tenant Pet Suites of America is Owned by National Veterinary Associates (NVA), Purchased in 2019 by JAB Holding Co. | JAB Holding Has a Credit Rating of A- by S&P
  • E-Commerce Resistant: PetSuites is Entirely Service-Based, Not Dependent Upon the Sale of any Pet Supplies or Soft Goods
  • Hot Commodity: Animal Adoption Through Q2 in 2020 is at Record Highs | An Estimated $99 Billion Will be Spent on Pets in the U.S. in 2020, Up From $95.7 Billion in 2019 (Source: AmericanPetProducts. org)
  • Located in Fort Bend County Which Has a Thriving Corporate Community, With Many Fortune 500 Companies and Small Businesses Taking Advantage of the County's Pro-Business Environment, Fiscal Strength and Educated Workforce

Investment Overview

Marcus & Millichap, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the 100% interest in new, build-to-suit, PetSuites absolute net lease investment located at 8320 Copper Creek Lane, Missouri City, Texas 77459 (the “Property”). Built in 2019, and delivered July 2019, the Property comprises a +/- 14,240 SF building on a highly visible +/- 1.70-acre parcel, that is strategically positioned to be easy to access for 56,000 vehicles per day at Highway 6, surrounded by residential and commercial development. The Property benefits from its highly relevant location with easy accessibility, and convenient retail location in a strong commercial area. Fort Bend County has a thriving corporate community with many Fortune 500 Companies and small businesses taking advantage of the county’s pro-business environment, fiscal strength, and educated workforce. The offering benefits from strong demographics with a population of 62,762 people and an average household income of $162,336 within three miles. The building is 100 percent occupied by PetSuites with over 70+ national locations, owned by National Veterinary Associates, Inc, an entity with over 500 locations, and owned by JAB Holdings Co. The lease will start once the tenant opens, expected December 2020, subject to a 20-year lease term and CPI rental increases every five years and in the five, five year options. PetSuites of America, a growing national pet resort, spa, and daycare chain, specializes in the boarding and grooming of dogs and cats. They currently have 70 locations in the United States, which include sites in Florida, Georgia, Indiana, Kentucky, Louisiana, North Carolina, Ohio, South Carolina, Texas, and Virginia. PetSuites has spent over 15 years developing and perfecting an enriching and healthy environment for beloved family pets. In June 2019 JAB Holding Co. agreed to buy a majority stake in NVA. JAB Holding Co. is owned by the Reimann family, one of the wealthiest in the world, according to Forbes. The company has a controlling interest in several companies such as Panera Bread, Krispy Kreme, Caribou Coffee, Dr. Pepper, Snapple, and many others.

Exclusively Listed By

  • Jesse Limon

    Licensed Real Estate Salesperson

    (212) 430-5291

    Email Jesse

    License(s): IN: RB14048415, NY: 10401271892

    Manhattan

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    License(s): TX: 9002994

    Texas

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