Single Tenant Dick's Sporting Goods (Subleased to Sportsman's Warehouse)

Camp Hill, PA

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The Opportunity

Summary

  • Price: $9,400,000
  • Cap Rate: 7.50%
  • NOI: $704,228
  • Lease Type: Fee Simple: NN
  • Building Size: 50,302 SF
  • Parcel Size: ~4 Acres (Denotes an Estimate)
  • Year Renovated: 2015
  • Remaining Lease Term: 8 Years
  • Options: Two (2), Five (5) Year Options, One Four (4) Year, Eleven (11) Month Option
  • Rental Increases: $0.50 PSF Every Five (5) Years

Forged Real Estate is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single tenant property leased to Dick's Sporting Goods (subleased to Sportsman's Warehouse), (the “Property”) in Camp Hill, PA, a borough within the Harrisburg-Carlisle MSA. As a subtenant to Dick's Sporting Goods (S&P: BBB), Sportsman’s Warehouse is operating on a NN lease with attractive $0.50 per square foot rental increases every five (5) years, including the option periods. Sportsman’s Warehouse has two (2), five (5) year options and one (1), four (4) year, eleven (11) month option remaining. Sportsman’s Warehouse benefits from excellent visibility as it can easily be seen by the 37,000 vehicles per day along US-15. Adjacent to a Walmart Supercenter, Sportsman's Warehouse sits as an outparcel to the highly trafficked Capital City Mall, which boasts approximately 614,000 square feet of retail space. According to Placer.ai, which uses GPS data from cell phones to track foot traffic, Capital City Mall ranks in the top 91st percentile of regional malls within the United States. Additionally, Sportsman’s Warehouse ranks in the top 80% within the U.S. when compared to other locations within its chain. Sportsman’s Warehouse is just under five (5) miles southwest of Harrisburg, the state capital of Pennsylvania home to over 38,000 state and federal daytime employees.

Investment Highlights

• Sportsman’s Warehouse benefits from excellent visibility as it can easily be seen by the 37,000 vehicles per day along US-15. Adjacent to a Walmart Supercenter, Sportsman's Warehouse sits as an outparcel to the highly trafficked Capital City Mall, which boasts approximately 614,000 square feet of retail space. According to Placer.ai, which uses GPS data from cell phones to track foot traffic, Capital City Mall ranks in the top 91st percentile of regional malls within the United States.

• The surrounding 3-mile area boasts excellent demographics, as it has an average household income over $108,000 and has enjoyed a double digit (10%) growth in both population and households over the last ten (10) years.

• Within three (3) miles of the property there is over 11.32 million square feet of industrial space, 7.08 million square feet of office space and 6.50 million square feet of retail, further exemplifying this corridor as a central location for all commercial property types.
• In addition to the surrounding retailers at the Macy’s anchored Capital City Mall, Sportsman’s Warehouse is surrounded by a host of nearby, national retailers just off of US-15 (37,024 VPD) such as: Walmart Supercenter, GIANT, Trader Joe’s, Wells Fargo, PNC Bank, Santander Bank, First National Bank, CVS, Rite Aid, Boscov’s, Michaels, Five Below, Staples, Barnes & Noble, LA Fitness, Starbucks, 7-Eleven, Chipotle, Panera Bread, AT&T, Mattress Warehouse, Great Clips, LensCrafters, Jos A. Bank, Talbot’s, Sally Beauty, Texas Roadhouse, Bonefish Grill, Panda Express, Arby’s, Burger King, Jersey Mike’s Subs, and Mission BBQ demonstrating the strength of the retail corridors.

• Sportsman’s Warehouse is just under five (5) miles southwest of Harrisburg, the state capital of Pennsylvania, home to over 38,000 state and federal daytime employees.

• This is the only Sportsman’s Warehouse within a 35-mile radius and ranks in the top 80% of Sportsman’s Warehouse stores in the country according to Placer.ai. Sportsman’s Warehouse and has over eight (8) years of lease term remaining with $0.50/SF rental increases every five (5) years and at the beginning of each option period.

Site Plan

map

Team

Brokerage Team

Marc Mandel

Managing Principal
Forged Real Estate
(610) 608-2621, ext. 1

Steve Schrenk

Principal
Forged Real Estate
(610) 608-2621, ext. 2

Marco DiPrinzio

Senior Director
Forged Real Estate
(610) 608-2621, ext. 5