Corporate Guaranty from Strong Credit Tenant
- Advance Auto Parts is a publicly traded company (NYSE: AAP) with a market cap. of $3.9B and annual revenue of $11.28B
- Credit Rating: S&P BBB-
Long Operating History with Recent Extensions
- Tenant has been operating at this location for almost 15 years
- Tenant recently signed a 10 year extension, showing commitment to the site
Rare Abs. NNN Lease Structure
- 10 Year Abs. NNN Lease
- Six (6) - five (5) year options
- Zero LL responsibility
Highly Accessible Location
- Located on S. Glenburnie Rd (20,000 VPD) with two points of ingress and egress and turn lane into the site
Good Visibility on Retail Corridor
- More than 20K cars travel on S. Glenburnie Rd
- Over 2.5MSF of retail is located in a 1-mile radius
- Nearby national tenants include: Target, Publix, HomeGoods, Five Below, Academy Sports, and Hobby Lobby
Below Market Rents
- Current tenant is paying approximately 40% below market rent
- Low rent allows for next owner to “mark-to-market” rents and increase in NOI