Home Improvement NNN
Hardware and home-improvement boxes. Large footprints, long leases, and a different re-use problem than a small retail pad.
Hardware and home-improvement boxes. Large footprints, long leases, and a different re-use problem than a small retail pad.
Home-improvement net lease is usually a large freestanding box or a ground lease under a store the retailer built.
The tenant draws customers for lumber, paint, tools, and garden goods, so the site needs truck access, a yard or garden area, and more land than a typical single-tenant shop. National operators and regional chains both appear. The lease tells you whether the landlord owns the building or only the land, who pays for the roof and the parking lot, and how rent steps up. Those terms vary by deal.
Houston Firm Hires Former Floor & Decor Exec As President Of New OfferingPartners Real Estate appoints Bryan Dodge to lead occupier growth and development, aiding scalable growth.
Morgan Stanley Acquires KC Ace Hardware Facility for $159MMorgan Stanley Investment Management, through investment funds managed by Morgan Stanley Real Estate Investing, acquired a newly developed 1.5 million-square-foot distribution facility in Kansas City, Missouri, for $158.5 million.
Home Depot to Open First Store in Southern MarylandCALIFORNIA, MD. — The Home Depot has purchased 13.5 acres within Lexington Exchange, a 140-acre mixed-use park situated along Three Notch Road (Md. Route 235) in California.
Home Depot Taps San Marcos for Next Texas StoreThe Home Depot is planning its first location in San Marcos. The $13 million project is slated for the northeast quadrant of I-35 North Frontage Road and McCarty Road, a rapidly developing area near Tanger Outlets San Marcos.Demand for these stores follows housing turnover, repair work, and new construction. A long lease to a national operator is a different risk from a short lease to a regional chain in a market that already has several home-improvement stores. The building is specialized: high ceilings, a garden center, and a large parking field. If the tenant leaves, the next user may be another hard-goods retailer, a grocer, or a subdivision of the box. Price the remaining term and the site.
Data and analysis on this page are for informational purposes only and do not constitute investment, financial, or tax advice. Statistics may be estimated from publicly available sources and should be verified with primary data providers before use in investment decisions. Tenant information is sourced from public filings and may not reflect current conditions. Past performance does not guarantee future results.