Investment Grade Credit Tenant – O’Reilly Auto Parts – S&P BBB+ Credit Rating – The property is leased to O’Reilly Auto Parts, which is one of the largest specialty retailers of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States. O’Reilly Auto Parts has an investment grade credit rating of “BBB+” by Standard & Poor’s..
New 20 Year Lease Term – Minimal Landlord Responsibilities – Rent Growth – New Construction – O’Reilly’s new 20-year lease commenced February 1, 2017, and features 6% rent increases starting in Year 11 of the Primary term and every 5 years thereafter, including the (4) 5-year option periods. The Landlord has minimal management responsibilities and is only responsible for the roof & structure. The tenant pays taxes and insurance while maintain the parking lot, sidewalks, & HVAC.
Across from Kroger Anchored Shopping Center – Excellent Retail Synergy – The O’Reilly Auto Parts is located directly across from the Village Shopping Center, a 171,646 square foot Kroger anchored shopping center with co-tenants that include AutoZone, ACE Hardware, Family Dollar, Long John Silver’s, and Mooresville Discount Mattress. Additionally, the trade area features McDonald’s, Chicago’s Pizza, RadioShack, Papa Murphy’s Pizza, Sleep Source, Gray Bros. Cafeteria, and Speedway, offering excellent retail synergy and drawing additional retail traffic to the surrounding area.
Located on Major Commuter/Retail Corridor – Quick Freeway Access – Solid Traffic Counts
The subject property is located less than a half mile from State Route 67. Located on the hard corner intersection of S. Indiana St & Moore St, which sees 11,000+ cars per day. S. Indiana St is a major corridor by which commuters and tourists travel to downtown Mooresville off of State Route 67 (24,000 cars per day).
Mooresville a Major Manufacturing Hub – Home to TOA (USA)’S First & Only U.S. Manufacturing Facility – FACILITY
The subject property is located in the town of Mooresville. Rooted in agriculture and strong in manufacturing and healthcare, the area is known as the “Crossroads of Progress” and is becoming the new home of many businesses. TOA (USA) has invested $111.2 million into a facility in Mooresville, with plans to employ 1,000 employees in 1 million square feet of facilities. This is TOA’s first and only auto-parts manufacturing plant in the United States. Other major employers include Nice-Pak Products, Inc., Franciscan St Francis Health, and BRI Staffing.
Located Within Indianapolis MSA – Diverse Economy – Distribution & Logistics Hub – Tourism Destination – The subject property is located just 10 miles southwest of Downtown Indianapolis, which is the capital and largest city of the state of Indiana. The Indianapolis economy is diverse, with the largest industry sectors by employment being manufacturing, health care and social services, and retail trade.
Indianapolis is a distribution and logistics hub, with more interstate highways intersecting through the city than in any other city in the U.S. It is home to 1,500 distribution firms employing 100,000+ workers. The Indianapolis International Airport is to the second-largest FedEx Express hub in the world, and houses other major shipping companies such as Celadon Group and United Parcel Service, with distribution centers for companies inlcuding Amazon.com, O’Reilly Auto Parts, Target Corp., and Walmart.
Recognized as a “Best Place to Travel in 2017” by Travel + Leisure Magazine, Indianapolis saw 27 million visitors in 2015, which generated $4.5 billion in economic impact.