Harbor Freight Tools is operating under a recently executed, 15-year lease with 14 years of primary term remaining. The Lease also features attractive 10% rent bumps every 5 years during the base term and throughout the five (5), five (5) year renewal option periods, providing increasing returns and an effective hedge against inflation.
The Property is a brand new build-to-suit for Harbor Freight Tools featuring state-of-the-art construction and the latest standalone prototype architecture. The Property also benefits from a highly passive NN lease with limited landlord responsibilities.
The Property serves as the primary home improvement store for the residents of Kenova and is the only Harbor Freight Tools store within 20+ miles. In addition, this HFT location had approximately 226.9K visits in the past 12 months, which ranks in the Top 15% of all home improvement stores in West Virginia as well as nationwide, and nearly triples the number of annual visits of the nearest competitor - Ace Hardware (Kenova, WV) 87K visits. (Source: Placer)