Executive Summary
271 Realty Capital is pleased to present the exclusive opportunity to acquire the Chico's FAS Corporate Campus, a 510,962 square foot, 10-building headquarters facility situated on approximately 57 acres in Fort Myers, Florida.
The property is offered with a 20-year absolute NNN lease featuring 3.5% annual rent escalations.
This mission-critical facility has served as Chico's headquarters since 1995, housing approximately 1,000 employees across executive leadership, design studios, IT infrastructure, and e-commerce operations.
Lease Guarantor
KnitWell Group
~$5B Annual Revenue | ~2,435 Retail Locations
Asking Price
$151,450,000
Ben Smith | SVP
[email protected] | 206.612.5527
Investment Highlights
Zero Cash Flow Structure
Ideal for 1031 exchange buyers seeking to defer gains while building equity through loan paydown.
Fully Amortizing Financing
20-year fully amortizing loan eliminates refinancing risk and balloon payment exposure. Rent amortizes loan to zero after 20 years.
3.5% Annual Growth
Contractual rent increases provide inflation protection and growing NOI throughout the hold period. Year 20 NOI reaches $21.1M.
Parent Guarantee
Lease guaranteed by KnitWell Group (~$5B revenue), providing corporate-level credit support across multiple retail brands.
Mission-Critical HQ
30+ year occupancy history with ~1,000 employees. Campus houses executive leadership, design studios, IT infrastructure, and e-commerce operations.
Absolute NNN Lease
Tenant pays all OpEx and CapEx for duration of lease.
World-Class Employee Amenities
Supporting Workforce Stability & Career Longevity
Campus Layout & Building Breakdown
510,962 SF Multi-Building Corporate Campus
20-Year Rent Schedule
3.5% Annual Escalations | Fully Amortizing to Zero Balloon
| Year | Annual NOI | Rent PSF |
|---|---|---|
| 1 | $11,000,000 | $21.53 |
| 2 | $11,385,000 | $22.28 |
| 3 | $11,783,475 | $23.06 |
| 4 | $12,195,897 | $23.87 |
| 5 | $12,622,753 | $24.70 |
| 6 | $13,064,549 | $25.57 |
| 7 | $13,521,809 | $26.46 |
| 8 | $13,995,072 | $27.39 |
| 9 | $14,484,899 | $28.35 |
| 10 | $14,991,871 | $29.34 |
| Year | Annual NOI | Rent PSF |
|---|---|---|
| 11 | $15,516,586 | $30.37 |
| 12 | $16,059,667 | $31.43 |
| 13 | $16,621,755 | $32.53 |
| 14 | $17,203,517 | $33.67 |
| 15 | $17,805,640 | $34.85 |
| 16 | $18,428,837 | $36.07 |
| 17 | $19,073,846 | $37.33 |
| 18 | $19,741,431 | $38.64 |
| 19 | $20,432,381 | $39.99 |
| 20 | $21,147,514 | $41.39 |
Download Offering Memorandum
Access the complete offering memorandum with all property details, financial projections, and investment analysis.
Ben Smith | SVP
[email protected] | 206.612.5527