Target
Baskersfield, CA
Target Corporation operates as a general merchandise retailer. It offers household essentials, including pharmacy, beauty, personal care, baby care, cleaning, and paper products; dry grocery, dairy, frozen food, beverages, candy, snacks, deli, bakery, meat, produce, and pet supplies; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.
The company also provides home furnishings and décor, such as furniture, lighting, kitchenware, small appliances, home décor, bed and bath, home improvement, and automotive products, as well as seasonal merchandise, such as patio furniture and holiday décor; music, movies, books, computer software, sporting goods, and toys, as well as electronics, such as video game hardware and software. In addition, it offers in-store amenities, including Target Café, Target Photo, Target Optical, Starbucks, and other food service offerings. Target Corporation sells products through its stores; and digital channels, including Target.com. As of September 13, 2017, the company operated 1,816 stores in the United States. Target Corporation was founded in 1902 and is headquartered in Minneapolis, Minnesota.
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S&P Outlook: S
Moody Outlook: Stable
Typical Lease Characteristics
Lease Term: 10 – 20 Years Years
Lease Type: Absolute NNN Lease
Lease Increases: 10% Every 5 years
Lease Extensions: 4-5 (5) Year Options
Lease Guarantor: Corporate
Positives:
- Public Company, Credit Rated
- 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: 4
Price: $4,173,150 - $5,143,650Average: $4,852,500
PPSF: $100 - $130Average: $118
Year Built: 2002 - 2017Average: 2008
CAP Rate Range: N/AV - N/AVAverage: N/AV
Size range: 33,049 sq ft - 126,839 sq ft Average: 103,044 sq ft
Last 12 Month Range:
# of Properties in set: 7
Price: $10,237,220 - $13,649,620Average: $12,187,162
PPSF: $307 - $399Average: $353
Year Built: 1993 - 2017Average: 2004
CAP Rate Range: 5.05% - 6.10%Average: 5.81%
Size range: 6,180 sq ft - 120,888 sq ft Average: 76,479 sq ft
Target Company Profile
Headquarters Information
Minneapolis, Minnesota
Founded in 1902
Company type: Public
Stock Ticker: TGT
Sector: Services
Industry: Discount, Variety Stores
# of Employees: 341,000
Target Stock Keys
Title | 2017 | 2016 |
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