FirstBank - Smyrna, TN
724 President Place, Smyrna, TN, 37167, US
₱149,856,000 | 380 sm
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
₱276,413,000
Cap rate
5.25%
NOI
₱14,513,000
WAULT
13.9 years
Year built
2025
Building area net
409 sm
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
Contact brokers
Thorntons - Nashville, TN (0 Properties)
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Last updated
May 20, 2025
