New Long Term NN Lease with Corporate Guarantee -The new 7-year NN lease is guaranteed by Fast Auto Loans, Inc. which has 850 locations in the U.S. and a 25- year operating history.
Rent Growth – The lease features 2% annual escalations in the primary term, as well as a 14% increase in the first option and a 10% increase in the second option.
Virtually New Building – The building has gone through extensive renovations, including a new roof, HVAC, facade, water/sewer, repaved parking lot, stucco, windows, new landscaping, and drive-thru (10 year transferable roof warranty).
Strategic Location – The subject property is located on N. Park Blvd. and Loveridge Rd, a main offramp from Highway 4, and offers excellent visibility with combined traffic counts of 134,000 cars per day.
Limited Competition – This Fast Auto Loans has limited competition in the area – the nearest Fast Auto Loans is nearly 30 miles away and its biggest competitor has no locations in Northern California.
Strong Demographics – Nearly 81,000 people live within a 3 mile radius of the subject property, with an annual household income of nearly $70,000.