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Kohl's | 6+yrs Remain Corp NN 14020 W Bell Rd 89,047 SF Retail Building Surprise, AZ 85374 $19,542,427 CAD ($219.46 CAD/SF) 6% Cap Rate

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Investment Highlights

6+ Years Remaining | Corporate Guaranteed Lease | Options To Extend | Scheduled Rental Increases
Surprise Towne Center & Marketplace | Surprise Marketplace |Surprise City Center Development

NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
Strong Demographics In 5-Mile Trade Area

Executive Summary

SRS Real Estate Partners-West, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, Kohl’s investment property located in Surprise, Arizona. The tenant, Kohl’s, has over 6 years of initial term remaining with 8 (5-year) options to extend, demonstrating their commitment to the site. The lease features 7.5% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. Additionally, the tenant’s rent is well below market at $9.33 PSF, providing investors with significant rent growth potential. The property’s roof was replaced in 2022 and has ~6 years remaining on the roof warranty.