USA 2 GO Sale-Leaseback Portfolio

Various locations

Description

JLL is pleased to exclusively offer for sale the USA 2 GO Sale-Leaseback Portfolio, which comprises 8 convenience store and gas locations – totaling 35,972 SF – across the state of Michigan (the “Portfolio” or “Properties”). The Properties are 100% occupied by USA 2 GO Quick Stores, Inc. (“USA 2 GO” or “Tenant”) – the premium convenience and gas (“C&G”) operator throughout Michigan with 25 total locations.

The Tenant will commit to a 20-year initial lease term with an absolute triple-net master lease structure, creating an attractive passive income opportunity for single-tenant investors who seek growing, long-term cash flow, guaranteeing $1.2 million in total rent from USA 2 GO, with attractive rent increases of 10.0% every 5-years and four (4) x 5-year renewal options.

Investors may bid on the entire Portfolio; bids for individual locations will not be accepted. There will be a Call for Offers in the coming weeks, which will be communicated to all interested investors in due time.

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Attributes

Building area gross

35,972 sf

Land area gross

19.7 acres

NOI

HK$9,581,000

Rent PSF

HK$266.28

Lease type

Absolute NNN Master

WALT

20 years

Annual escalations

10.0% Every 5-Years

USA 2 GO Sale-Leaseback Portfolio (8 Properties)

Media

Investment Highlights

USA 2 GO Quick Stores, Inc. as corporate guarantor - 25-unit c-store operator with 23+ years of successful operating history
Absolute NNN 20-year master lease structure, creating a passive income opportunity for single-tenant investors seeking $1.2M+ in long-term, annual cash flow
Attractive 10.0% rental escalations every 5-years
Properties are strong performers with combined 4-wall EBITDAR rent coverage of 2.0x
Properties are strategically located in residential-oriented communities with minimal fueling options and near Michigan's main roadways
All Properties in the Portfolio were acquired after 2019 and 5 of the Properties have been fully-renovated since then
Large, average lot size of 2.6-acres