PUBLICLY TRADED COMPANY
- JOANN Inc, recently became a public company and is currently listed on the Nasdaq under JOAN. Forbes Article
- Quick Facts:
$2.33B in Total Assets
Q1 FY 2022: Net sales increased 15.0% compared to the same period last year, to $574.4 million, with total comparable sales also increasing 15.0%. On a two-year stack, total comparable sales increased by 13.0%
855 retail stores in 49 states
STRONG RETAIL LOCATION
- The subject property sits adjacent to a well-performing Target and across from a Meijer.
- Other big box retailers anchor the corridor including Costco, Sam’s Club, Best Buy, and Home Depot.
ESTABLISHED LOCATION WITH RENT INCREASES
- JOANN has been at this location since 2000, and has maintained strong sales.
- Over seven years of term remain on this lease with attractive lease bumps running through both option terms.
HIGH TENANT DEMAND
- Several big box users have expressed interest in this coveted retail corridor creating high demand for this location in the futur