Kay Jewlers – Pennsylvania

$55,000 Minimum Investment

 Current Yield: 6%

NNN Lease – 11 years

This deal is COMPLETED. For current 1031 offerings or help with your 1031 exchange, please contact us.

Property Info

Tenant: Kay Jewelers
Address: 115 N Hermitage Rd, Hermitage, PN 16148
Year Build: 2015
Total Sq Ft.: 2,600
Property Type: Single Tenant, Freestanding
Ownership Type: TIC
Non-Accredited Investors: Yes
Minimum Investment: $55,000

Pennsylvania TIC Property

This tenant-in-common 1031 property is a new 2015 relocation store for Kay Jewelers on 11-year NNN Lease with 10% rental increases every 5 years & in the options. Kay Jewelers relocated to this site after 12 years of operating successfully in the adjacent Shenango Valley Mall (507,000+ SF shopping center). This offering is a rare opportunity to acquire a portion of brand-new freestanding Kay Jewelers with historically strong sales. Contact us for additional information on unit level financials.

Immediate trade area retailers include the 507,000+ SF regional Shenango Valley Mall, which is anchored by JCPenney. Other retailers in the immediate area include Home Depot, Lowes, Shenango Valley Cinema, Aidi, Chipotle, and many others. There are over 36,000 vehicles per day at the intersection of Hermitage Rd & E State Street

This property is a brand new build-to-suit, freestanding Kay Jewelers location, constructed in 2015, and represents a newer prototype location. Tenant is responsible for interior structural components and HVAC. Tenant directly administers the operation, maintenance, repair, and replacement of the common areas including direct payment of CAM’s and directly pays taxes. A 15-year roof warranty is offered to buyers at close of escrow. Contact us for info on all current TIC properties >>>

Tenant Info

Tenant: Kay Jewelers
Entity Info: Wholly-Owned Subsidiary of Sterling Jewelers, Ltd.
Revenues: $2.55 Billion
No. of Locations: 1,129
Loan Guarantor: Sterling Jewelers
Entity Info: Wholly-Owned Subsidiary of Signet Jewelers, Ltd.
Revenue: $3.99 Billion
No. of Locations: 1,540
Corporate Parent: Signet Jewelers, Ltd.
Ticker Symbol: SIG
Credit Rating: BBB-/Stable
Revenue: $6.55 Billion
Net Income: $468 Million
Total Assets: $6.5 Billion

Lease Info

Type: NN
Term: 11 years
Corp. Guaranteed Lease: Yes
Rent Commencement: 1/19/2015
Lease Expiration: 12/31/25
Owner Responsibility: Roof & Structure
Tenant Responsibility: Taxes, Insurance, Utilities, Maintenance
Annual Rent: $136,240
Rent Escalations: 10% every 5 years & renewal options
Renewal Options: (2) 5-year renewal options


Location: Mercer, PA
Population: 16,220
Avg Household Income: $67,100

Hermitage is a city in Mercer County, Pennsylvania and is part of the Youngstown-Warren-Boardman, OH-PA MSA. located in Western Pennsylvania midway between Pittsburgh, Erie, Chicago, and New York City at the junction of Interstates 79 and 80, offering unique advantages for business development. Hermitage is a great place to work and invest. Hermitage has a labor force of 7,803 people with a job growth rate of 3.56% since 2014. Hermitage boasts a total of 1,057 businesses with the leading industries being wholesalers, retail, healthcare and social services, accommodation and food services.