Academy Sports & Outdoors
Baskersfield, CA
Academy Sports + Outdoors is a premier sports, outdoor, and recreation lifestyle retailer with a unique assortment of quality hunting, fishing and camping equipment and gear along with sports and leisure products, footwear, apparel, patio sets, barbecue grills and much more. The company operates stores throughout Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, Oklahoma, South Carolina, Tennessee and Texas, where the company is based.
The Academy Sports + Outdoors philosophy is to deliver an unparalleled shopping experience by providing convenience, offering a broad selection of quality products, delivering exceptional customer service and selling the right stuff at everyday low prices.
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Typical Lease Characteristics
Lease Term: 10-15 Years Years
Lease Type: NN (Landlord responsbible for roof and structure
Lease Increases: 5%-6% every 5 Years
Lease Extensions: 2-3 (5) Year Options
Lease Guarantor: Corporate
Tenant Overview
Academy stores are typically located in areas withing strong retail corridors with favorable traffic counts, which are factors that help in the event of retenanting if necessary upon expiration. The typical size of these stores however (40,000 to 70,000 SF), the tenant pool for such locations is limited. It is therefore portantant to give special attention to the nearby retail, and price per square foot when evaluating this tenant.
Positives:
- Recognized Brand
- NNN lease eliminates landlord responsibilities
- Typically Long term leases with increases
Negatives:
- Competitive Industry Sector
- Susceptible to economic trends and pressures
- Large spaces make it more challenging to re-tenant
Market Snapshots:
On Market Ranges:
# of Properties in set: 7
Price: $7,146,010 - $8,725,660Average: $7,522,120
PPSF: $110 - $130Average: $119
Year Built: 2003 - 2017Average: 2013
CAP Rate Range: 7.14% - 8.05%Average: 7.59%
Size range: 58,472 sq ft - 71,640 sq ft Average: 63,769 sq ft
Last 12 Month Range:
# of Properties in set: 1
Price: $5,932,000 - $5,932,000Average: $5,932,000
PPSF: $87 - $87Average: $87
Year Built: 2003 - 2003Average: 2003
CAP Rate Range: 7.25% - 7.25%Average: 7.25%
Size range: 67,500 sq ft - 67,500 sq ft Average: 67,500 sq ft
Academy Sports & Outdoors Company Profile
Headquarters Information
Harris County, Texas
Founded in 1938
Company type: Private
Parent Company: KKR & Co. L.P
Sector: Sporting Goods
Industry: Retail
# of Employees: 17,000