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With this acquisition, Walmart becomes the Company's fourth largest tenant, joining a portfolio led by investment grade-rated tenants Lowe's (BBB+ credit rating) and Dick's Sporting Goods (BBB credit rating). The acquisition also introduces the Company's first TJ Maxx-branded store within its portfolio. Following this transaction, approximately 50% of the Company's annualized base rent is now attributable to investment-grade rated tenants.
The property is located in a robust market trade area demonstrated by an average household income of $146,000 and population exceeding 200,000 within a five-mile radius.
Posted In: PINE
