Thorntons - Nashville, TN_Property for Sale

3475 Dickerson Pike, Nashville, TN, 37207, US

Thorntons - Nashville, TN

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the 4,400 square foot freestanding, under construction single-tenant Thorntons located at 3475 Dickerson Pike in Nashville, TN (“Property” or “Asset”). The Asset is 100% leased to Thorntons LLC ( “Tenant”) with a brand new 15.0-year ground lease, 10.0% rent escalations every 5-years, and seven, five-year renewal options with no landlord responsibilities. Thorntons parent company is BP, the largest energy company in America, with an investment grade (S&P: ‘A-’) rating.

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Attributes

Asking price

₹425,200,000

Cap rate

5.25%

NOI

₹22,325,000

WAULT

13.9 years

Year built

2025

Building area net

409 m²

Media

Investment Highlights

Brand new absolute NNN ground lease with zero landlord responsibilities, ±13.9 years of remaining lease term, and 10.0% escalations every 5-years
Thorntons is a leading independent convenience and fuel center retailer owned by BP, an investment grade parent company (S&P: ‘A’)
Adjacent to Skyline Commons Shopping mall anchored by Walmart and Lowes with 2.9 million visits annually
Strategically positioned along Dickerson Pike, one of the busiest roads in Nashville (246,000 VPD) and a rapidly growing corridor
Adjacent to Tristar Skyline Medical Center with 353 beds and Hampton Inn & Suites with 126 keys
Thorntons is the first major gas station off a major I-65 southbound exit