Hobby Lobby - Recent Lease Extension

The Snyder Carlton National Net Lease Team is pleased to offer investors an opportunity to acquire the single tenant net leased Hobby Lobby in Clovis, NM. Hobby Lobby is the largest privately owned arts and crafts retailer in the world with over 1,000 stores in 48 states and over 46,000 employees. Demonstrating the strength of this location, the tenant has been operating at this location for over 20 years and recently extended the lease (8.5 years remaining) and has two 5-year option periods. The roof was replaced in 2022 and has a 20-year warranty in place. With limited landlord responsibilities, rent increases every 5 years and long-term operating history this asset is ideal for an investor seeking long-term cash flows.

The 57,703 SF building is a co-anchor to the 169,000 SF community center with Albertsons Market and is positioned on the hard corner signalized intersection of N Prince Street and Airport Highway which sees over 34,900 VPD. Nearby retailers include Walmart Supercenter, Lowe’s Home Improvement, PetSmart, Marshalls, Ross, JC Penney, Harbor Freight, Dollar General, McDonald’s, Starbucks, Whataburger and more. Cannon Air Force Base is within 7 miles of the subject property comprising a community of 20,000+ active-duty military personnel and their families, civilian employees and contractors.