TruGreen Lawn Care

• STRONG NATIONAL CREDIT TENANT – Founded in 1969 with over 300 locations nationwide, TruGreen is America’s #1 largest lawn care company (30% market share), serving more than 2.3 million residential and commercial customers across the United States with lawn, tree, and shrub care services. The company employs approximately 15,000 associates and generates an estimated $2 Billion in annual revenue.
• BELOW-MARKET RENT & DISCOUNT TO REPLACEMENT COST – TruGreen is currently paying $4.93/SF, significantly below market rents that reach $8.45/SF according to CoStar. Supported by a tight ±4% vacancy rate, the property offers compelling long-term mark-to-market potential. At approximately $73 Price/SF, the acquisition basis is substantially below replacement cost, providing investors with both downside protection and future rent growth upside.
• INDUSTRIAL NNN LEASE / 2.50% ANNUAL RENT INCREASES – The property is secured by a passive 10-year industrial NNN lease that commenced in 2022 and features 2.50% annual rent increases, providing investors with predictable cash flow growth and a built-in hedge against inflation. The Industrial NNN structure minimizes landlord responsibilities while offering stable, long-term income backed by an established national tenant.
• PRIME TRI-CITIES, TENNESSEE LOCATION — Kingsport serves as a key economic anchor of Tennessee’s Tri-Cities region, one of the Southeast’s most established and economically resilient metropolitan areas and home to Fortune 500 company Eastman Chemical. The property benefits from great connectivity via Interstates 26 and 81, providing direct access to major freight and logistics corridors throughout the Southeast and Mid-Atlantic. This strategic location offers efficient access to key markets including Knoxville, Nashville, Charlotte, and the broader Appalachian region, supporting long-term industrial and service-oriented operations.
• INCOME TAX FREE STATE – Tennessee benefits from no state income tax offering significant financial advantages for businesses and investors, enhancing profitability and making it an attractive location for long-term growth and investment.