Description:
The subject property is a Circle K located in Baton Rouge, LA. The lease is an absolute NNN lease with no landlord responsibilities and is corporately guaranteed by Alimentation-Couche-Tard, Inc. The original term has 10 years remaining with 5-5 year options and 2-10 year options to renew. The rent increases are based on the Consumer Price Index (CPI) and adjusts every 5 years. The company currently owns and operates more than 4,500 convenience store locations in Canada and the United States. Couche-Tarde is now the largest convenience store operator in Canada and the 4th largest in North America. Their revenues were in excess of $3.3 Billion for the preceding fiscal year, and they are publicly traded on the Toronto Stock Market under the symbol ATD.
This investment also offers buyers the additional incentive of accelerated depreciation. Please contact your certified public accountant or tax advisor for additional information.
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Investment Highlights:
Corporate guarantee by (S&P BB+ rated tenant)
10 years remaining on absolute NNN lease
No landlord responsibilities
CPI increases during base term and option periods
Located on an arterial road across from Winn Dixie
Surrounded by a substantial number of housing developments and two country clubs
Excellent demographics
Financing Summary:
All cash
