Hobby Lobby

Tenant Description

Hobby Lobby was founded in 1972 and is headquartered in Oklahoma City, OK. It is an industry leader in the arts and crafts business. It has operates 850+ stores, has 32,000+ employees, and operates in 45+ States. The company has excellent corporate financial fundamentals and is consistently listed on Forbes list of America’s Largest Private Companies.

What To Look For When Buying A Hobby Lobby

Like all other big box tenants, can you replace this rent and re-tenant the building if needed?

What We Like About Hobby Lobby

Brand Recognition, Strong Company, Usually Located In Dense Retail Corridor, 15 Year Lease, Rent Increases In Primary Term, Usually Sits On A Large Parcel

Competition

Michaels, Jo-Ann Stores

What Is Sold In A Hobby Lobby

Arts and crafts supplies store including hobbies, picture framing, jewelry making, fabrics, floral and wedding supplies, cards and party ware, baskets, wearable art, home accents and holiday merchandise.

Hobby Lobby Website

https://www.hobbylobby.com/

Corporate Office Location

7707 SW 44th St – Oklahoma City, OK 73179

Fast Facts

Hobby Lobby is the largest privately owned arts-and-crafts retailer in the world

Hobby Lobby has two affiliated companies. Mardel is a Christian bookstore and education supply store, and Hemispheres, a fine furnishings retailer.

Hobby Lobby – Tenant News
Hobby Lobby - Tenant News
Average Cap Rate Trend
6.25%
2019
6.50%
2020
12 mo avg with 10+ yr lease term (*Please Note Data Points Are Not Exact Figures*)
Average Sale Data & Lease Structure
Avg. Sale Price$5,500,000
Avg. Annul Rental Income$300,000
Avg. Price/ SF$125/SF
Typical Lease TypeDouble Net
Typical Lease Term15 Years
Typical Lease Escalations10% Every 5 Years
Credit Rating
S & PN/A
Moody'sN/A

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