Sleep Number

215 Pottstown Pike, Exton, PA
Deal Type:
Net Lease
Cap Rate:
Current Rent:
Lease Type:
Landlord Responsibilities:
Roof and Structure
Renewal Options:
Two, 5-year options
Building Sq. Ft.:
4,000 SF
Rent Increases:
10% every 5 years
Site Size:
.52 Acres

Investment Highlights

  • New 10 year lease with 10% rent increases every 5 years guaranteed by Sleep Number Corporation (NASDAQ: SNBR)
  • Relocation store from within Exton Square Mall evidencing strong historical performance and market profitability
  • Outstanding company growth – revenue and net income increased by 11% and 18%, respectively, from 2018-2019. Sleep Number projects to growth same store sales between 4%-5% through 2025
  • Sleep Number Corp. was profitable through the first 6 months of 2020 with sales of $757mm and net income of $26.5mm
  • Sleep Number has averages sales of $1,034 per square foot -projecting over $4.1mm in sales at the subject location
  • Shadow anchor to recently constructed Whole Foods Market
  • Situated at the entrance to Exton Square, a 1,088,000 SF enclosed shopping mall
  • Established retail trade area featuring Whole Foods, Walmart, GIANT Food Stores, Kohl’s, Aldi, Panera, McDonald’s, CVS, and Chipotle, among others
  • Affluent consumer base with average household income of$146,900. Exton is located in the wealthiest county in PA
  • Over 1,700 luxury apartment units within 1-mile providing dense consumer base
  • Frontage to Pottstown Pike (35,800 VPD), a major commuter and retail thoroughfare connecting Exton to the PA Turnpike (50,300 VPD) and Exton Bypass (58,300 VPD)

Listing Agents

Graham Gold

Vice President
314 324 8792

Jordan Shtulman

Managing Principal
847 226 4133

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