Bowling Center Sale Leaseback

1600 NW Courtyard Cir, Port St. Lucie, FL
Deal Type:
Sale Leaseback
Price:
$21,323,076
Cap Rate:
6.50%
Current Rent:
$1,386,000
Lease Type:
Triple Net
Lease Term:
15 years
Landlord Responsibilities:
None
Renewal Options:
Five, 5-Year
Building Sq. Ft.:
65,188 SF
Site Size:
7.9 Acres
  • superplay stream capital partners
  • superplay stream capital partners
  • superplay stream capital partners
  • superplay stream capital partners

Investment Highlights

  • Superplay USA, the tenant, is owned by a subsidiary of Bowlero Corp. (NYSE: BOWL), the guarantor
  • Strong Guarantor credit with over $1B in revenue and $353M in adjusted EBITDA; Moody’s recently upgraded Bowlero Corp.’s credit rating to B1 from B2
  • The property is among Bowlero’s top performing assets with a unit level EBITDA margin at over 60%
  • Long-term absolute net lease with 2% annual rent escalations
  • Excellent South Florida retail location with immediate access to Interstate 95

Listing Agents

Krupa Shah

Managing Director
646 734 4188
[email protected]

Adam English

Managing Director
256 694 9803
[email protected]

Broker of Record: Jonathan Wolfe, Lic. #BK350717

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