GoBrands Corporate Net Lease
For sale to qualified investors is the fee simple interest in the single tenant Gopuff net lease in Cleveland, Ohio. The parent company and guarantor, Gobrands, Inc., is a rapidly growing international corporation valued at $15 Billion after their recent acquisition of Liquor Barn. The property is being offered at an attractive 7% caprate on year 1 NOI, with base rent increasing 4% annually for the next four years. Gopuff chose this location due to its strategic proximity to Case Western Reserve University, Little Italy, and the densely populated surrounding neighborhoods. Located just 2 miles west of the site near Case is the area known as University Circle. This district has the highest concentration of medical and cultural institutions in Ohio. In addition to numerous museums, academic buildings and student housing, University Hospitals and Cleveland Clinic both have their “main campus” hospitals here in addition to many satellite children’s hospitals, offices, and more. This all allows Gopuff to serve their target demographic all within just a few miles of the site. Combining the strong corporate guaranty, attractive 7% cap rate, and strategic position of the site, there is little on the market today offering similar attributes to the investor.