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|Last Updated Date||26 Jun 2020|
JLL is pleased to offer for sale Star Furniture Company located in Cypress, Texas. Star Furniture is an industry leading furniture and mattress store that has been in business for over 100 years, with 11 locations throughout Texas. The property is easily accessible from US-290, which serves over 120,000 VPD and with a visibility to over 28,600 VPD along Barker Cypress Road. It is also located on a strong retail corridor with leading brands including Target, Home Depot, Chase Bank, H-E-B, LA Fitness and more.
The property is leased to Star Furniture Company, LLC. It is a subsidiary of Warren Buffet’s, Berkshire Hathaway. Investors have a unique opportunity to acquire one of the top furniture and mattress brands in the 4th largest and one of the most diverse cities in the U.S., ranked number one metro for economic growth potential.
- Fee simple interest
- NNN lease of 10 years with 9 years of primary term remaining
- Rental increases of 10% every 5 years
- Three, 5-year renewal option periods
- Over 232,000 residents within a 5-mile radius with average annual household income of $132,700