Value Added Opportunity: Significantly Below Market Lease Rate
Significant Upside: 14% Increase in Rent at Next Option Period (8.83% CAP – September 2020)
Low Price Per Square Foot – $90 PSF
Absolute Net Leased Asset with Zero Landlord Responsibilities
Mint Condition Property: New Roof, New Signage and Parking Lot was Sealcoated & Restriped
No Other Major Office Supply Stores in Immediate Trade Area
Located in the Heart of the Retail Corridor: Nearby Tenants Include Lowe’s, T.J.Maxx, Ross, Big Lots, Kroger, CVS, Chick-fil-A, Hobby Lobby, Walmart and More
In Cooperation with JDS Real Estate Services, Inc. Lic. #332901
OfficeMax was an American office supplies retailer founded in 1988. It is now a subsidiary of Office Depot, Inc., which is headquartered in Boca Raton, FL. As of December 2012, OfficeMax operated 941 stores in 47 states, Puerto Rico, the U.S. Virgin Islands and Mexico. In 2012, net sales were $6.9 billion, down from $8.3 billion in 2008.
It was announced February 20, 2013, that Office Depot and OfficeMax will combine in an all-stock deal, which will create the largest U.S. office-supplies chain. On November 5, 2013, the merger was completed. The OfficeMax name continues to serve as a brand of the newly formed Office Depot, Inc.