Miscellaneous

Aaron's - Albuquerque MSA

1221 Main Street Southwest, Los Lunas, NM 87031

Listing Price: $1,539,000

Cap Rate
6.50%
Tenant Name
Aaron's
Years Remaining On Lease
7.30
Guarantor
Corporate Guarantee
Rentable SF
7,000
Lease Type
Double Net
Rent Per Square Feet
$14.29

Investment Overview

Marcus & Millichap, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the 100% interest in Aaron’s Corporate net leased, build-to-suit, located at 1221 Main Street Southwest, Los Lunas, New Mexico 87031 (the “Property”). Built in 2018, the Property comprises a +/- 7,000 SF building on a highly visible +/- 0.65-acre parcel, that is strategically positioned to be easy to access for 29,000 vehicles per day at MN-6/Main Street, surrounded by residential and commercial development. The Property benefits from it’s highly visible location with easy accessibility, and convenient retail location in a strong commercial area near Facebook’s new one billion dollar data center and a Walmart distribution center, only 3 miles to the west. Los Lunas is among the state’s fastest growing cities with nearly fifty percent growth since 2000, the subject benefits from a population of over 60,000 people with an average household income of $60,500 within ten miles. The building is 100 percent occupied by Aaron’s Inc. with 1,400+ national locations. The lease started 1/15/2018, subject to a 10-year lease term and10 percent rental increases at the start of each of two five year options. Aaron’s Inc. is a leading omni-channel provider of lease-purchase solutions in the rent-to-own space. Aaron’s serves a large market of over two million customers through multiple channels and products, from virtual lease-to-own,lease-to-own stores, e-commerce and second-look financing. Aaron’s is publicly traded on the NYSE under the ticker “AAN”, founded in 1955, and sees over 2 million customers annually with revenues of about $1.8 billion.

Investment Highlights

  • Highly Visible Relocation Store, Subject Asset is a Brand New, Build-to-Suit 7,000-Square-Foot Build-to-Suit on a 0.65-Acre Lot with Easy Ingress/Egress
  • Aaron's, Inc. (NYSE: AAN) is a Leading Omni-channel Provider for Lease-Purchase Solutions with 1,800 Stores Across 47 States and Canada and Revenue of $1.8 Billion
  • Double Net Lease with Minimal Landlord Responsibilities and Ten-Percent Increases in Each Option Period
  • Prime Retail Location, Nearby Retailers Include: The Home Depot, Lowe's, AutoZone, Applebee's, Big O Tires, O'Reilly Auto Parts, Murphy USA, IHOP, Sonic, Burger King, Maurice's, Starbucks, AutoZone, Walmart Walgreens and More
  • New One-Billion Dollar Facebook Data Center is Only Three Miles West | Three of Six Buildings Have Opened and are Online, Supporting Over 150 Employees Today and 300 Jobs Upon Completion
  • Walmart Distribution Center (500 Employees) and Niagara Bottling Center (40 Employees) are both Located within Three Miles of Subject Asset

Exclusively Listed By

  • Jesse Limon

    Licensed Real Estate Salesperson

    (212) 430-5291

    Email Jesse

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

    Manhattan

Listing Price: $1,539,000

Cap Rate
6.50%
Tenant Name
Aaron's
Years Remaining On Lease
7.30
Guarantor
Corporate Guarantee
Rentable SF
7,000
Lease Type
Double Net
Rent Per Square Feet
$14.29

Investment Highlights

  • Highly Visible Relocation Store, Subject Asset is a Brand New, Build-to-Suit 7,000-Square-Foot Build-to-Suit on a 0.65-Acre Lot with Easy Ingress/Egress
  • Aaron's, Inc. (NYSE: AAN) is a Leading Omni-channel Provider for Lease-Purchase Solutions with 1,800 Stores Across 47 States and Canada and Revenue of $1.8 Billion
  • Double Net Lease with Minimal Landlord Responsibilities and Ten-Percent Increases in Each Option Period
  • Prime Retail Location, Nearby Retailers Include: The Home Depot, Lowe's, AutoZone, Applebee's, Big O Tires, O'Reilly Auto Parts, Murphy USA, IHOP, Sonic, Burger King, Maurice's, Starbucks, AutoZone, Walmart Walgreens and More
  • New One-Billion Dollar Facebook Data Center is Only Three Miles West | Three of Six Buildings Have Opened and are Online, Supporting Over 150 Employees Today and 300 Jobs Upon Completion
  • Walmart Distribution Center (500 Employees) and Niagara Bottling Center (40 Employees) are both Located within Three Miles of Subject Asset

Investment Overview

Marcus & Millichap, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the 100% interest in Aaron’s Corporate net leased, build-to-suit, located at 1221 Main Street Southwest, Los Lunas, New Mexico 87031 (the “Property”). Built in 2018, the Property comprises a +/- 7,000 SF building on a highly visible +/- 0.65-acre parcel, that is strategically positioned to be easy to access for 29,000 vehicles per day at MN-6/Main Street, surrounded by residential and commercial development. The Property benefits from it’s highly visible location with easy accessibility, and convenient retail location in a strong commercial area near Facebook’s new one billion dollar data center and a Walmart distribution center, only 3 miles to the west. Los Lunas is among the state’s fastest growing cities with nearly fifty percent growth since 2000, the subject benefits from a population of over 60,000 people with an average household income of $60,500 within ten miles. The building is 100 percent occupied by Aaron’s Inc. with 1,400+ national locations. The lease started 1/15/2018, subject to a 10-year lease term and10 percent rental increases at the start of each of two five year options. Aaron’s Inc. is a leading omni-channel provider of lease-purchase solutions in the rent-to-own space. Aaron’s serves a large market of over two million customers through multiple channels and products, from virtual lease-to-own,lease-to-own stores, e-commerce and second-look financing. Aaron’s is publicly traded on the NYSE under the ticker “AAN”, founded in 1955, and sees over 2 million customers annually with revenues of about $1.8 billion.

Exclusively Listed By

  • Jesse Limon

    Licensed Real Estate Salesperson

    (212) 430-5291

    Email Jesse

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

    Manhattan

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