Investment Highlights
- Single Tenant - Double Net Lease (Minimal Landlord Responsibilities)
- Corporate Guarantee
- Over Seven Years Remaining on Initial Term
- Two - Five Year Options To Extend
- Surrounded By Other National Retailers
- Directly Off Highway 51 (34,800+ VPD) Main Pass-through of Wausau
- Potential Upside To Expand The Building And Add Another Tenant, See Agent For Details
The subject property is a 6,256-square foot (4,909 Rentable square footage) building leased out to Mattress Firm. They signed a 10-year lease that commenced on December 29, 2011 leaving over seven years remaining on the initial term. The lease calls for 10 percent rent increases every five years throughout the initial term and option periods. The lease is structured as double net, Mattress Firm is responsible for everything except for roof & structure. Mattress Firm, publicly traded on the NASDAQ under the ticker “MFRM,” had annual revenue of over $1.2 Billion in 2013.
Potential upside to expand the building and add another tenant, see agent for details.
Mattress Firm Inc. is an American retailing company and mattress store chain founded on July 4, 1986. The
headquarters of the company is located in Houston, Texas. Mattress Firm currently operates over 1,600 locations across 33 states nationwide, which makes it the largest US bedding retailer.
Wausau is a city in and the county seat of Marathon County, Wisconsin. The Wisconsin River divides the city into east and west. The city is adjacent to the town of Wausau. As of the 2010 census, Wausau had a population of 39,106.