Ashley Furniture
Baskersfield, CA
Ashley Furniture Industries, Inc. is an American home furnishings manufacturer and retailer, headquartered in Arcadia, Wisconsin. The company is owned by father and son team Ron and Todd Wanek. Ashley Furniture manufactures and distributes home furniture products throughout the world.
Ashley Furniture Industries sells home furnishings and accessories available through two distribution channels: independent furniture dealers and more than 500 Ashley Furniture HomeStore retail furniture stores, which are independently owned and operated by licensees in the United States, Canada, Mexico, Central America, and Japan. It has manufacturing and distribution facilities in Wisconsin, Mississippi, California (closed 2016), Pennsylvania, North Carolina, Florida, China, and Vietnam.
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Typical Lease Characteristics
Lease Term: 15 – 20 Years Years
Lease Type: Absolute NNN
Lease Increases: 10% Every 5 years
Lease Extensions: 4-5 (5) Year Options
Lease Guarantor: Corporate and Franchisee
Tenant Overview
Given the nature of the product, special cosnideration must be given to the store sales. Typically fully net leases, which avleviate some of the risk, however Ashley furniture locations are often typically larger in size, making it more challenging to re-tenant in the event of a move-out.
Positives:
- Nationwide presence with high brand recognition
- Company has its own manufacturing and distribution centers
- Typically Long term leases with increases
Negatives:
- Unique buildout and large spaces make it more challenging to re-tenant
- Prone to Economic Pressures
- Faces pressures from E-Commerce & Online Retailers
Market Snapshots:
On Market Ranges:
# of Properties in set: 14
Price: $5,208,640 - $7,154,040Average: $6,275,473
PPSF: $130 - $170Average: $153
Year Built: 1994 - 2018Average: 2008
CAP Rate Range: 6.58% - 8.69%Average: 7.83%
Size range: 23,500 sq ft - 76,979 sq ft Average: 41,707 sq ft
Last 12 Month Range:
# of Properties in set: 1
Price: $2,499,798 - $2,499,798Average: $2,499,798
PPSF: $56 - $56Average: $56
Year Built: 2006 - 2006Average: 2006
CAP Rate Range: 11.46% - 11.46%Average: 11.46%
Size range: 44,520 sq ft - 44,520 sq ft Average: 44,520 sq ft
Ashley Furniture Similar Tenants
Ashley Furniture Company Profile
Headquarters Information
Arcadia, Wisconsin
Founded in 1970
Company type: Private
Industry: Furnishings
# of Employees: 22,582