Net Lease Michaels Property Profile and Cap Rates Date April 16, 2017
Net Lease Michaels – Typical Property and Lease Terms
|Price Range:||$3M - $6M|
|Cap Rate:||6.75% - 7.00%|
|Net Income:||$215,000 - $400,000|
|Price Per foot:||$155 PSF - $300 PSF|
|Building Size:||19,000 SF|
|Lot Size:||2 Acres|
|Escalations:||10% Every 5-Years|
|Lease Term:||20 Years|
|Credit Rating:||BB- (S&P)|
Tenant Company Information:
Michaels Stores, Inc. operates as an arts and crafts specialty retailer in North America. Its stores offer arts, crafts, framing, floral, home décor, and seasonal merchandise for the hobbyists and do-it-yourself home decorators. In addition, Michaels produces private brands, including Recollections, Studio Decor, Bead Landing, Creatology, Ashland, Celebrate It, Art Minds, Artist’s Loft, Craft Smart, Loops & Threads, Make Market, Foamies, LockerLookz, Imagin8, and Sticky Sticks. Michaels owns and operates more than 1,200 retail stores in 49 states, as well as in Canada.
Michaels is the largest arts and crafts specialty retailer in North America. Michael J. Dupey opened the first Michaels store in 1976. The company is headquartered in Irving, Texas. Michaels is a publically traded company on the Nasdaq Stock Exchange using the symbol “MIK”.
|Number of Locations:||1,200+|
|Number of Employees:||43,500+|