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INVESTMENT OFFERING

SAB Capital is pleased to present Office Depot in Tallahasee, Florida. The tenant is subject to an absolute triple net (NNN) lease with zero landlord responsibilities. Office Depot exercised their first option in 2020 with expiration in June 2025. The property is located in a dense trade area with over 1.7 million square feet of retail including national tenants such as Home Depot, Trader Joe’s, and Chick-Fil-A.

  • Office Depot in Tallahasee, FL | Under 5 Miles from Central Business District
  • Zero Landlord Responsibilities | ¬†Absolute Triple Net (NNN) Lease Structure
  • Strong Corporate Guarantee | Office Depot Generated $8.5B in Revenue in 2021
  • Steady Local Population Growth | 8.5% Increase in 5 Mile Radius Since 2010 (Costar)
  • Robust Trade Area | 2% Vacancy Across 1.7 Million Square Feet of Retail Within 1 Mile (Costar)
  • Oversized Parcel | 5.38 Acre Parcel Size
  • Recently Extended | ¬†Tenant Exercised Option in July 2020
  • National Retailers Located Nearby | Home Depot, Chick-Fil-A, Trader Joe’s, and Many More

Tenant Price Cap Rate Lease Type Square Feet Status
Office Depot $4,521,000 8.25% NNN 30450 Available

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