Absolute Net lease provides zero Landlord responsibilities. Operator is the largest Jiffy Lube Franchisee in the country. Annual 3% rent increases throughout the term remaining and option periods; increases yield an estimated 185 basis points over the primary term. Tenant recently extended their lease early adding an additional 5 years of firm term. Highly visible pad site of Fred Meyer.
Long Term Lease Remaining – 12+ Years with Options. Absolute NNN Lease. Strong Suburban Location. Income Tax Free State. Grocery Anchored. Hard Corner Location with Strong Traffic Counts.
S&P Rated AA- Investment Grade Credit. The lease calls for zero landlord obligations and the tenant has one, 5-year option to renew with 10% increases. The site is strategically located on a major thoroughfare and neighbors many local retailers.