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Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee-simple interest in the Academy Sports + Outdoors (“ASO”) located two miles south of Interstate-40 (81,000 VPD) in Amarillo, TX.
This 76,770 square foot site sits on 6.5 acres and is the 3rd most visited Academy store out of 260 locations and the 2nd most visited in Texas, according to Placer.AI. Due to the store’s strong sales performance, Academy underwent a 24,000 SF expansion of the store in 2017.
Since 2018, ASO’s sales have increased 42% while EBITDA is up 258%, driven primarily by new in-place management implementation that has focused on operational improvements within the existing store footprint. These improvements have allowed Academy to pay down debt significantly and strengthen its balance sheet.
The subject Property is 100% absolute triple-net leased to Academy Sports + Outdoors Inc (NASDAQ: ASO) with 9.8 years of lease term remaining and three, five-year renewal options, providing investors with a passive, long-term, and growing income stream from one of the fastest growing full-line sporting goods and outdoor recreational retailers.
- Rare absolute triple-net lease with 9.8 years remaining
- #3 most visited Academy Sports out of 260 locations (Placer.AI)
- #2 most visited Academy Sports in Texas (Placer.AI)
- Average household income of $104,900 within immediate 3-mile radius
- Since 2018, ASO's sales have increased 42%, while EBITDA is up 258%
- Last year, ASO delivered the highest sales and profits in the company's history
- Business friendly state with no state income tax