Academy Sports - Slidell, LA
61107 Airport Rd, Slidell, LA, 70460, US
R 88,718,000 | 6,322 m²
Description
Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to offer the opportunity to acquire the brand-new construction Circle K located at 1229 N Collins Blvd. in Covington, LA ("Property" or "Asset"). Circle K currently operates under an investment-grade, corporate-backed 15-year absolute NNN ground lease with 14.7 years of remaining term. The lease features attractive 10% rent increases every 5 years and includes nine 5-year renewal options, and zero landlord responsibilities.
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Attributes
Asking price
R 40,562,000
Cap rate
5.25%
NOI
R 2,130,000
Year built
2024
WAULT
14.7 years
Building area net
368 m²
Land area gross
0.78 ha
Media
Investment Highlights
- Brand new construction, absolute NNN lease with ±15 years of lease term remaining
- Investment grade (BBB+) tenancy with global scale of 14,000+ locations
- Prime Hwy 190 frontage with access to 31,000 vehicles per day
- Strong demand characteristics driven by 5-mile AHHI of $107K
- Growing submarket with a 26% population increase within a -mile radius since 2010
Contact brokers
Circle K - Covington, LA (0 Properties)
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Last updated
6 Jun 2025
