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5116 Denali Park DrHerriman, UT 84096
New Build-to-Suit PetSuites Investment Opportunity
Asset ClassRetail, Special Purpose
Cap Rate6%
Net Operating Income: $331.25 ThousandWeighted Average Lease Term: 20 YearsSquare Feet: 10,953Access Data Room
Newly-constructed PetSuites of America in Herriman, UT; thriving Salt Lake City MSA.
overview of deal

Overview

Jones Lang LaSalle Americas ,Inc (“JLL”) is pleased to exclusively offer for sale the fee simple interest in the newly-constructed PetSuites in Herriman, UT (the “Property”) in the thriving Salt Lake City MSA. This facility has been purpose-built for PetSuites of America (“Tenant” or “PetSuites”) to operate a premiere pet resort facility with boarding, daycare, grooming and training services. The Property is subject to a fresh 20-year primary term, absolute net lease with rental increases and a corporate guaranty from the parent (National Veterinary Associates).

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Investment Highlights

  • Newly-constructed, purpose built facility for a growing national tenant
  • Corporate guaranty from industry leader (National Veterinary Associates)
  • Well-located real estate in a very strong, high growth submarket of Salt Lake City
  • Exposure to the recession-resistant pet care industry
  • Optimal absolute NNN structure with contractual rent increases
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5116 Denali Park DrHerriman, UT 84096

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Listing provided by Revere CRE