Investment Grade Credit Tenant – Corporate Guarantee – The property is leased by Advance Auto Parts, the largest automotive aftermarket parts provider in North America, and has a corporate guarantee from Advance Auto Parts Inc., which has an investment grade credit rating of BBB- by Standard & Poor’s.
New Long Term Lease – The new 15-year lease features (4) 5-year options to renew with 10% increases in each option, providing an investor with a long-term income stream and a hedge against inflation.
New Construction – The subject property is a brand new build-to-suit project featuring the latest prototype building for an Advance Auto Parts store.
Outparcel to Winn Dixie Shopping Center – The subject property ideally sits on the highly visible front pad of a shopping center anchored by Winn Dixie, a subsidiary of Southeastern Grocers, which is the fifth-largest supermarket chain in the United States based on store count.
Limited Competition – The nearest auto parts store in the trade area is over three miles away assuring the tenant’s profitability at this location and minimizing future vacancy risk.
Dense Residential Housing Population – The subject property is surrounded by a multitude of residential housing projects (51,855 units as of 2016 within a 5-mile radius) lending well to the tenant’s concept and projected long term profitability.