Aaron’s rent to own.
Does Aaron’s typically agree to NNN leases ? I work on the debt and equity side of the business for MF so I’m not intimate with the various retail tenants lease terms. The gut says yes.
[{"id": "eralai8", "text": "Why don\u2019t you call them and find out.", "replies": [{"id": "eraldep", "text": "When in doubt, call", "replies": [{"id": "eralkmy", "text": "Don\u2019t see how you can do this business and not be able to pick up the phone and find an answer.  I\u2019ll lexis nexis the CEO and call him on his mobile if I feel it\u2019s warranted.", "replies": [{"id": "eraycq7", "text": "Yeah I\u2019m in industrial so I talk to a lot of CEOs. Any particular advice on cold calling them?", "replies": [{"id": "erayth8", "text": "I imagine the CEO is typically not the person you would want to be talking to.  If it is, don\u2019t waste their time and have something worthwhile to talk to them about other than \u201cinterest rates are low\u201d and \u201cgood time to sell\u201d.\n\nEdit:  I didn\u2019t mean to be short in my response, that\u2019s sort of the deal though.  Be deliberate, do your homework before calling, you have 15 seconds to make an impression.", "replies": [], "depth": 5}, {"id": "erb536j", "text": "yea, don't waste your time. CEO's don't negotiate leases.", "replies": [], "depth": 5}], "depth": 4}, {"id": "erb51yv", "text": "why not have relationships with tenant reps who know the market. seems like a lot more efficient. or you could wander the halls at ICSC and ask people if they want to sign a lease.... it's your time", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "erbg40t", "text": "Because they have a real estate department staffed with real estate managers who are paid to force the company line on developers and property owners so the only answer he will get is from the lease form, which will be a one sided wishlist that only the owner of the worst B space would agree to. \n\nThe better answer is to find some property owners in your area who own similar properties to you and who have Aaron\u2019s as a tenant ask them.  You can also search for investment properties nation wide that have Aaron\u2019s as a tenant and request full packages. These packages will have the lease terms in them. I do this whenever a shopping center near one of my properties goes up for sale.", "replies": [], "depth": 2}, {"id": "erbsc7x", "text": "Thanks very helpful.", "replies": [], "depth": 2}], "depth": 1}, {"id": "erb0o7h", "text": "So everyone criticized but no one knew the answer or helped?  It\u2019s a fair reddit question .  Most retailers do NNN leases - I work with T-Mobile and Advance Auto and all of their leases (other than NY) are NNN.", "replies": [{"id": "erbsb60", "text": "Yeah a lot of criticism but not much meat on the bone. I don\u2019t work retail. I have no monetary interest in the question. I simply know a land lord outside of my working life with Aaron\u2019s as a tenant and they keep fixing the hvac. The purpose of the question was pure curiosity to see if they got hosed on the lease. Jesus. I used to work retail site selection for a national retailer and every single lease we signed was NNN. That\u2019s why I asked. Guess this is not the place for general questions.", "replies": [{"id": "erbveau", "text": "That\u2019s the owners fault for not using a broker... this is what happens when you try to be cheap.", "replies": [{"id": "erbvrzt", "text": "At what point did a say a broker was not involved. ? A broker was involved. Thanks for your generous contribution to the post.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "erc57dz", "text": "Just out of curiosity, why don't they do NNN in NY?  And is it all of NY, or just upstate or just downstate?  You piqued my curiosity on this one, since I'm a broker in upstate.", "replies": [], "depth": 2}], "depth": 1}, {"id": "erb4ich", "text": "Every single lease on our retail properties are NNN.", "replies": [], "depth": 1}, {"id": "erb55o7", "text": "I assume you're asking this because you want to develop a pad for an Aaron's. You should be talking to brokers - both investment sales guys and tenant reps who do this day in, day out.", "replies": [{"id": "erbseeh", "text": "Enlightening", "replies": [], "depth": 2}], "depth": 1}, {"id": "erbmbbp", "text": "I did a BTS for them a couple of years ago. It was NN. Roof and structure were on the landlord.", "replies": [], "depth": 1}, {"id": "erk3uwc", "text": "Yes.  Over the past year I have seen 10-20 Aaron's properties for sale all listed as having Absolute NNN leases in place.  Typically 10 year initial term with extensions.", "replies": [{"id": "erkp4ik", "text": "Thanks.", "replies": [], "depth": 2}], "depth": 1}]