Northmarq is pleased to offer the opportunity to acquire 100% fee simple interest in the PODS Moving & Storage facility located at 1001 South Reilly Road in Fayetteville, North Carolina (the “Property”). PODS is an industry leader in the moving and storage sector with locations and services in 46 U.S. states and internationally. It has completed over six million moves in its 27-year history and was recently named the #1 Moving Container Company in the U.S. by Forbes.
The Property offers a material value-add opportunity, while also offering an attractive “going-in” yield. PODS’ current rent is 35%+ below-market, and they recently exercised their final 3-year extension option. Upon expiration of the current Lease, an Owner could increase rent to market rates and realize double digit returns on their initial investment.
PODS’ in-place lease offers attractive terms, with corporate credit and a passive NNN structure. Landlord responsibility is limited to structural components and the Lease features 2.00% annual increases — terms that could potentially be kept in place if a new lease were negotiated with PODS at the end of the current term in 3 years. Call broker for details.