Academy Sports - Slidell, LA
61107 Airport Rd, Slidell, LA, 70460, US
¥724,683,000 | 6,322 sm
Description
Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to offer the opportunity to acquire the Circle K located at 2000 Oak Harbor Blvd. in Slidell, LA ("Property" or "Asset"). Circle K currently operates under an investment-grade, corporate-backed 20-year absolute NNN ground lease with 16.6 years of remaining term. The lease features attractive 10% rent increases every 5 years and includes six 5-year renewal options, and zero landlord responsibilities.
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Attributes
Asking price
¥744,974,000
Cap rate
5.35%
NOI
¥39,858,000
WAULT
16.6 years
Building area net
602 sm
Land area gross
0.83 ha
Media
Investment highlights
- Operating on an absolute NNN lease with ±16.6 years of lease term remaining
- Near-term 10% rental escalation in January 2027 resulting in a 50bps cap rate improvement
- Investment grade (BBB+) tenancy with global scale of 14,000+ locations
- Prime I-10 frontage with access to 43,000 vehicles per day
- Strong demand characteristics driven by 1-mile AHHI of $110K
- 10% upcoming rental escalation in January 2027
- Growing submarket with a 41% population increase within a 3-mile radius since 2010
Contact brokers
Circle K - Slidell, LA (0 Properties)
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Last updated
Jun 6, 2025
