AT&T

Lowest
Cap Rate

5.00%

Lowest cap rate over past 24 months

Average
Cap Rate

5.75%

12 mo avg with 5+ yr lease term

Overview

AT&T stores typically range from 1,500 to 2,500 square feet, located in high-traffic retail strips, endcaps, or freestanding buildings on 0.25 to 0.75-acre lots. Leases are usually structured as 10- to 15-year absolute NNN, with 7% to 10% rent increases every 5 years, and are often corporately guaranteed. AT&T stores serve as customer service hubs and sales centers for wireless plans, devices, and accessories.

Average Property & Lease

Average Sale Price	$1,500,000 – $2,500,000
Average NOI	$90,000 – $135,000
Building SF	1,500
Lease Term	10 Years
Escalations	10% Every 5 Years
Stock Symbol	NYSE:T

CREDIT RATING

S&P	BBB
Moody's	Baa2

TENANT DESCRIPTION

AT&T Inc. is one of the largest telecommunications and media companies in the world, with origins dating back to the Bell Telephone Company founded by Alexander Graham Bell in 1877. The modern AT&T brand was formed in 1983 and became a major wireless carrier after acquiring SBC Communications and Cingular Wireless. Today, AT&T provides wireless services, broadband, entertainment, and business solutions across the U.S. and globally. Its retail stores are often leased under AT&T Mobility, a wholly owned subsidiary.

Founded	1983
Headquarters	Dallas, TX, U.S.
Number of Locations	5,000
Revenue	$122 B
Company Website	https://www.att.com/
Key Principal	John Stankey

AT&T

Lowest Cap Rate

5.00%

Average Cap Rate

5.75%

Overview

Average Property & Lease

CREDIT RATING

S&P

BBB

Moody's

Baa2

TENANT DESCRIPTION

PROS

CONS

COMPANY QUICK STATS

Lowest
Cap Rate

Average
Cap Rate