In 2020, the Company has acquired 29 single tenant net leased properties for $116.6 million with a weighted average going-in cash cap rate of 6.9%, exceeding its previously provided acquisition guidance of $110 million. Including the new Acquisitions, the Company’s portfolio now consists of 48 properties located in 34 markets and 18 states across 18 industries, with a weighted average remaining lease term of 8.5 years.
| Tenant | Type | Industry | MSA | Credit Rating (1) | Rentable Square Feet(2) | ABR% (3) | Remaining Lease Term (4) |
|---|---|---|---|---|---|---|---|
| Wells Fargo | Office | Financial Services | Portland-Vancouver-Hillsboro, OR-WA | A+ | 212,363 | 15% | 5.0 |
| Hilton | Office | Hospitality | Orlando-Kissimmee-Sanford, FL | BB | 102,019 | 9% | 6.0 |
| Walmart | Retail | Grocery | Detroit-Warren-Dearborn, MI | AA | 214,172 | 7% | 6.1 |
| LA Fitness | Retail | Fitness | Tampa-St. Petersburg-Clearwater, FL | CCC+ | 45,000 | 5% | 11.4 |
| Kohl's | Retail | General Merchandise | Phoenix-Mesa-Scottsdale, AZ | BBB- | 87,875 | 4% | 9.1 |
| Hobby Lobby | Retail | General Merchandise | Tulsa, OK | N/A | 84,180 | 4% | 10.0 |
| At Home | Retail | Home Furnishings | Raleigh, NC | B- | 116,334 | 4% | 11.8 |
| Container Store | Retail | Home Furnishings | Phoenix-Mesa-Scottsdale, AZ | B- | 23,329 | 3% | 9.2 |
| Hilton | Office | Hospitality | Orlando-Kissimmee-Sanford, FL | BB | 31,895 | 3% | 6.0 |
| Century Theater | Retail | Entertainment | Reno, NV | B+ | 52,474 | 3% | 4.0 |
| Alpine Valley | Retail | Entertainment | Whitewater-Elkhorn, WI | B+ | 0 | 3% | 12.3 |
| Hobby Lobby | Retail | General Merchandise | Winston-Salem, NC | N/A | 55,000 | 3% | 9.3 |
| Hobby Lobby | Retail | General Merchandise | Asheville, NC | N/A | 55,000 | 3% | 10.7 |
| AMC | Retail | Entertainment | Boston-Cambridge-Newton, MA-NH | CCC- | 39,474 | 2% | 12.3 |
| Dicks Sporting Goods | Retail | Sporting Goods | Atlanta-Sandy Springs-Roswell, GA | N/A | 46,315 | 2% | 3.1 |
| Jo-Ann Stores | Retail | General Merchandise | Boston-Cambridge-Newton, MA-NH | CCC | 22,500 | 2% | 8.1 |
| Conn's | Retail | Consumer Electronics | Dallas-Fort Worth-Arlington, TX | B- | 37,957 | 2% | 10.7 |
| Old Time Pottery | Retail | Home Furnishings | Jacksonville, FL | N/A | 84,180 | 2% | 9.6 |
| 7-Eleven | Retail | Convenience Store | Austin-Round Rock, TX | AA- | 6,400 | 2% | 14.3 |
| Walgreens | Retail | Pharmacy | Birmingham-Hoover, AL | BBB | 14,516 | 2% | 8.3 |
| Walgreens | Retail | Pharmacy | Atlanta-Sandy Springs-Roswell, GA | BBB | 15,120 | 2% | 4.9 |
| Best Buy | Retail | Consumer Electronics | Atlanta-Sandy Springs-Roswell, GA | BBB | 30,038 | 2% | 5.3 |
| Cross America (BP) | Retail | Convenience Store | Cincinnati, OH-KY-IN | N/A | 2,578 | 2% | 10.0 |
| 7-Eleven | Retail | Convenience Store | Austin-Round Rock, TX | AA- | 7,726 | 1% | 14.9 |
| Walgreens | Retail | Pharmacy | Seattle–Tacoma–Bellevue, WA | BBB | 14,125 | 1% | 9.6 |
| Walgreens | Retail | Pharmacy | Albany, GA | BBB | 14,770 | 1% | 12.1 |
| Outback | Retail | Casual Dining | Charlotte-Concord-Gastonia, NC-SC | B+ | 6,297 | 1% | 10.8 |
| Scrubbles (Goo-Goo) | Retail | Automotive Service | Jacksonville, FL | N/A | 4,512 | 1% | 16.9 |
| Cheddars | Retail | Casual Dining | Jacksonville, FL | BBB- | 8,146 | 1% | 6.8 |
| Family Dollar | Retail | Dollar Stores | Boston-Cambridge-Newton, MA-NH | BBB- | 9,228 | 1% | 3.3 |
| Advance Auto Parts | Retail | Automotive Parts | Baltimore-Columbia-Towson, MD | BBB- | 6,876 | 1% | 14.2 |
| Dollar General | Retail | Dollar Stores | Kermit, TX | BBB | 10,920 | 1% | 14.7 |
| Dollar General | Retail | Dollar Stores | Plattsburgh, NY | BBB | 9,277 | 1% | 10.8 |
| Dollar General | Retail | Dollar Stores | Odessa, TX | BBB | 9,127 | 1% | 14.6 |
| Dollar General | Retail | Dollar Stores | Houston-The Woodlands-Sugar Land, TX | BBB | 9,138 | 1% | 14.6 |
| Dollar General | Retail | Dollar Stores | Ogdensburg-Massena, NY | BBB | 9,167 | 1% | 10.7 |
| Dollar General | Retail | Dollar Stores | Bangor, ME | BBB | 9,128 | 1% | 12.9 |
| Dollar General | Retail | Dollar Stores | Buffalo-Cheektowaga-Niagara Falls, NY | BBB | 9,199 | 1% | 12.7 |
| Dollar General | Retail | Dollar Stores | Somerset County, ME | BBB | 9,345 | 1% | 12.9 |
| Dollar General | Retail | Dollar Stores | Lewis County, NY | BBB | 9,309 | 0% | 13.0 |
| Dollar General | Retail | Dollar Stores | Ogdensburg-Massena, NY | BBB | 9,342 | 0% | 11.9 |
| Dollar General | Retail | Dollar Stores | Binghamton, NY | BBB | 9,275 | 0% | 13.0 |
| Dollar General | Retail | Dollar Stores | Aroostook County, ME | BBB | 9,167 | 0% | 12.9 |
| Freddy's Frozen Custard | Retail | Quick Service Restaurant | Jacksonville, FL | N/A | 3,200 | 0% | 6.0 |
| Dollar General | Retail | Dollar Stores | Ogdensburg-Massena, NY | BBB | 9,219 | 0% | 12.0 |
| Dollar General | Retail | Dollar Stores | College Station-Bryan, TX | BBB | 9,252 | 0% | 14.5 |
| Dollar General | Retail | Dollar Stores | Cincinnati, OH-KY-IN | BBB | 9,290 | 0% | 9.5 |
| Long John Silvers | Retail | Quick Service Restaurant | Tulsa, OK | N/A | 3,000 | 0% | 0.2 |
| TOTAL | 1,596,754 | 102% | 8.5 |
(1) Tenant, or tenant parent, credit rating
(2) The Alpine Valley Music Theatre, leased to Live Nation Entertainment, Inc., is an entertainment venue consisting of a two-sided, open-air, 7,500-seat pavilion; an outdoor amphitheater with a capacity for 37,000; and over 150 acres of green space
(3) Annualized Straight-line Base Rental (“ABR”) is calculated based on our current portfolio as of December 21, 2020. Any differences a result of rounding.
(4) Remaining Lease Term as of December 21, 2020