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Home Depot Auction

1919 Wells Road | Orange Park (Jacksonville), Florida

STARTING BID $2,000,000
BID DEPOSIT AMOUNT $25,000
AUCTION DATE 04/07/2014
INTEREST FEE SIMPLE
BUILDING SIZE 108,578 SF
LAND SIZE 495,277 SF (11.37 Acres)
METROPOLITAN AREA JACKSONVILLE
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Transwestern and Auction.com are pleased to offer for sale to qualified investors an absolute net leased property in Orange Park (Jacksonville), Florida. This fee simple offering is 100 percent leased to Home Depot and represents the opportunity to acquire a well-located investment grade asset.

The lease commenced in September of 1992 and has a 25-year primary term, with 10, five-year tenant options to extend. Rent increased five percent on September 1, 2012 and will increase five percent on the first day of each option period. Additionally, Home Depot is sub-landlord for a 6,500-square-foot retail building occupied by Panda Express and The Mattress Firm. This building does not currently provide any additional rent to the landlord, but will revert to the landlord upon termination of the Home Depot lease.

The subject is in a densely populated retail area, directly adjacent to a Super Target and across the street from the 958,000-square-foot Orange Park Mall anchored by Dillards, JC Penney, Sears, Belk, Dick’s Sporting Goods, and AMC Theaters.

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Marc Imrem
312.881.7066
marc.imrem@transwestern.com

Andrew Watson
312.881.7065
andrew.watson@transwestern.com

Victor Garcia
Auction.com
#SL3213205
Florida Licenced Broker

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