Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

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Key Facts

Year Built 2008
Lease Type NNN
Lease Expiration 2029-01-31
Remaining Term 8 years
Tenant Kohl's Corporation
Building Area
Land Area ()

Property Description

Jones Lang LaSalle Americas, Inc. (JLL) is pleased to exclusively offer the opportunity to acquire a single tenant, freestanding property corporately leased to and guaranteed by Kohl’s (the property) in the Central Pennsylvania community of Selinsgrove. Kohl’s is operating on a 4.47-acre tract that is located within the retail condominium of Monroe Marketplace – the grocery-anchored power center in Selinsgrove, PA.

Kohl’s currently has 8+ years remaining on its NNN ground lease with eight (8), five (5) year options in place and an extremely attractive, low rent per square foot. Each option period also contains a 10% rental increase. There are zero Landlord responsibilities associated with the offering.

Investment Highlights

  • Kohl’s is operating on a corporately guaranteed NNN ground lease with zero landlord responsibilities. There are more than eight years of remaining term and attractive, 10% rental increases in each of the eight (8), five (5) year options in place. The tenant is also paying an extremely low rent per square foot, creating flexibility and rental upside for the new owner of the property
  • Kohl’s is a 10 to 15-minute drive from two higher educational institutions – Bucknell University and Susquehanna University. The two universities have a combined enrollment of more than 6,000 students and 600 faculty 
  • Kohl’s is strategically located off N Susquehanna Trail (US Route 11-15), a major thoroughfare in the area that is home to 30,000 VPD. It is also just a mile from the 750,000 SF Susquehanna Valley Mall, which features approximately 65 tenants
  • Kohl’s is a leading omnichannel retailer with more than 1,100 stores in 49 states. This Kohl’s location is nearly 35 miles away from the next closest Kohl’s store, enabling the company to capture a large consumer base
  • The property is located within the market-dominant Monroe Marketplace, which is home to nationally recognized retailers such as Target, Giant, T.J. Maxx, Best Buy, Dick’s Sporting Goods, Ross, Michaels, PetSmart, LongHorn Steakhouse, Buffalo Wild Wings, and more, further driving consumers to the area
Last Updated Date: 21 Dec 2020
Marc Mandel
Marc Mandel
Managing Director, Capital Markets
License details
PA - AB068236 DE - RS-0019936 NJ - 0894218
Steve Schrenk
Steve Schrenk
Director, Capital Markets
License details
NJ-1433421

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Last Updated Date: 21 Dec 2020

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