US - Lubbock, TX
MYR 46,828,000 | 6,548 m²
JLL is pleased to offer for sale the fee-simple interest in a recently remodeled Ashley Furniture Homestore in Jasper, TX. The asset represents the Tenant’s new store concept, known as the Ashley 7.0 model, which is elevating Ashley’s visual display and merchandising offerings.
Ashley has operated at this location since the early 2000’s and recently affirmed its long-term commitment by executing an early 10-year net lease extension with three, five-year renewal options. The lease features attractive 5.0% rent increases every five years and minimal landlord responsibilities.
Notably, this Asset is the only traditional furniture store in the entire city and the next nearest national furniture store is over 50 miles away – leading to 75% of the customers choosing to drive 30+ miles to visit this store annually.
This opportunity allows investors the unique ability to acquire a secure, long-term cash flow backed by an excellent tenant with global brand name recognition.
Additionally, the asset is among the lowest priced investment offerings across all Ashley Furniture Homestores on the market.