Franklin Street Real Estate Services is pleased to present this freestanding Amscot Net Lease located in Tampa, FL. This property is located in Valrico, one of Tampa's oldest sub-markets. Tampa is the Tampa Bay Area's largest city which has approximately 2.7 million residents. This well positioned property benefits from being located out front of the recently renovated Shoppes at Lithia where LA Fitness just signed a new 15yr lease and opened in December 2012. The property also benefits from being across SR 60 and the recently redeveloped Valrico Commons where Publix and Ross have signed long-term leases, further validating this strong retail sub-market. The property is surrounded by every major national retailer including Wal-Mart, Lowe's, Home Depot, McDonald's, CVS, Walgreens, Chick-Fil-A and a host of others.
Amscot exercised its option early at its contracted rate on a lease that commenced on February 2004. The corporately guaranteed lease offers three percent (3%) annual rental increases starting March 2016 as well as two, five-year options to renew. Under the lease, the tenant pays their taxes, insurance, and all common area maintenance charges. Tenant is responsible for all parking lot maintenance and repairs. Tenant will take of responsibility of roof and structure on March 2014.
This Amscot Net Lease offers an investor the opportunity to acquire a maintenance-free, long term leased property located in a great sub-market of Tampa, FL.