Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

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Attributes

Year Built 2020
Tenure Type Leasehold
Building Area
Land Area

Property Description

JLL is pleased to offer for sale a newly-constructed Valvoline Instant Oil Change (the “Property or “Asset”) ideally located in Fort Worth, TX. The Property is leased to Valvoline LLC (the “Tenant”) and is guaranteed by Valvoline, Inc, an established international auto product and service provider with 1,400 locations across the country. The Tenant is operating on an absolute net ground lease structure that features zero landlord responsibilities over the 15 year base lease term, contractual rental escalations of 10% every five years, and three additional five-year options to renew. This offering presents the opportunity to acquire a single-tenant retail property leased to a well-recognized oil change Tenant in a booming, regional retail trade area in north Fort Worth, that has seen rapid development and population growth over the past two decades. 

Investment Highlights

  • 15-Year Absolute NNN Ground Lease featuring absolutely zero landlord responsibilities
  • Attractive 10% rental increases every 5 years with three 5-year options
  • Established Tenant with approximately 1,400 quick-lube locations in North America
  • High-quality construction with stone and brick featuring 3 service bays 
  • Strategically positioned outparcel at The Citadel mixed-use development along I-35 with exposure to over 175,000 vehicles per day
  • One of the most highly trafficked retail trade areas in Texas, featuring over two million square feet of retail inventory and a population of over 250,000 within a 5-mile radius
  • Shadow anchored by national retailers including Costco, Target, Aldi, WinCo Foods, and future multifamily development.
  • Located in AllianceTexas a 26,000-acre master-planned development spanning 40 square miles home to 61,000 employees and 525 companies.
  • The population within a 5-mile radius has grown 280% since 2000 and includes over 82,900 households. The population is expected to grow by an additional 30,000 residents over the next five years
  • Since 2000, the trade area’s commercial and residential inventory has grown by over 165%
  • Affluent customer base with average household income greater than $115,000
Last Updated Date: 01 Jul 2020
Caroline Binning
Caroline Binning
Director, Capital Markets
License details
TX - 601565
Adam Howells
Adam Howells
Senior Managing Director, Capital Markets

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Last Updated Date: 01 Jul 2020

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