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JLL is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single tenant, full NNN ground lease property leased to Sheetz (the “Property”) in Butler, PA, which is 27 miles north of Pittsburgh and a part of the city’s MSA. Sheetz is operating on a 15-year NNN Ground Lease with attractive 10% rental increases beginning in the seven (7), five (5) year option periods. Each Sheetz lease has a corporate signature, as there are no franchisees. Sheetz dominates the Western Pennsylvania convenience store sector and has a very strong following as they provide gas, car washes, and deliver made to order meals through their drive-thru.
The Property benefits from its excellent accessibility to a large consumer draw, as it sits along PA Route 8 (22,000 vehicles per day) on the corner of the signalized intersection into the Clearview Mall. National and renowned retailers such as ALDI, Giant Eagle, Rural King, Dollar General, Advance Auto Parts, Texas Roadhouse, Wendy’s and Eat’n Park are within a mile from the premises, further driving customers to the area.
- This Corporate Sheetz location is operating on a Long-Term NNN Ground Lease with 10% rental increases beginning in the seven (7), five (5) year options that remain.
- The Property benefits from its large parcel size (2.57 acres) and excellent accessibility to a large consumer draw, as it sits along PA Route 8 (22,000 vehicles per day) on the corner of the fully signalized intersection into the Clearview Mall, with multiple points of ingress and egress.
- Sheetz, which is open 24/7, is recognized by Fortune as one of the 100 Best Companies to Work For, has a dominant presence in western Pennsylvania and is 5+ miles away from their next closest store. The Property also features a drive-thru lane and a car wash.
- National and renowned tenants such as ALDI, Giant Eagle, Rural King, Dollar General, Advance Auto Parts, Texas Roadhouse, Wendy’s and Eat’n Park are within a mile from the premises, further driving customers to the area.
- Butler, PA is a part of the Pittsburgh MSA, which includes more than 2.3 million people and the city of Pittsburgh has received numerous accolades such as: #1 city for starting a business (Kiplinger), #1 city that appeals to millennials (Apartment List), and #3 markets to watch (Urban Land Institute).
- Sheetz was the first convenience store in Pennsylvania to sell beer, beginning in 2016. Now Sheetz is selling beer and wine at over 160 Pennsylvania stores and more are added every month. Sheetz has begun to partner with local Pennsylvania breweries to provide limited-edition craft beer which are only sold in select Pennsylvania convenience stores.