Hobby Lobby
Baskersfield, CA
Hobby Lobby Stores, Inc. is a private for-profit, closely held corporation which owns a chain of American arts and crafts stores based in Oklahoma City, Oklahoma. Formerly called Hobby Lobby Creative Centers, the stores are managed by corporate employees.
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Typical Lease Characteristics
Lease Term: 10 – 15 Years Years
Lease Type: Absolute NNN Lease
Lease Increases: 10% Every 5 years
Lease Extensions: 4-5 (5) Year Options
Lease Guarantor: Corporate
Positives:
- Typically located in strong retail corridors
- Established brand within its niche
- 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: N/AV
Price: N/AV - N/AVAverage: N/AV
PPSF: N/AV - N/AVAverage: N/AV
Year Built: N/AV - N/AVAverage: N/AV
CAP Rate Range: N/AV - N/AVAverage: N/AV
Size range: N/AV - N/AV Average: N/AV
Last 12 Month Range:
# of Properties in set: 10
Price: $6,412,630 - $7,695,160Average: $7,125,146
PPSF: $115 - $138Average: $123
Year Built: 1988 - 2017Average: 2006
CAP Rate Range: 5.36% - 7.49%Average: 6.46%
Size range: 51,373 sq ft - 74,705 sq ft Average: 58,502 sq ft
Hobby Lobby Similar Tenants
Hobby Lobby Company Profile
Headquarters Information
Oklahoma City, Oklahoma
Founded in 1972
Company type: Private
Industry: Retail
# of Employees: 28,000