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 nearly 13 years
- Tenant recently signed a 10 year extension, showing commitment to the site
- Currently operating as a Carquest store due to good recognition in market
Rare Abs. NNN Lease Structure
- 10 Year Abs. NNN Lease
- Six (6) - five (5) year options
- Zero LL responsibility
- Tenant is paying below market rent which allows for a healthier rent-to-sales ratio
Fronting Major Retail Corridor
- Subject site fronts Harrison Ave (22.2K VPD)
- Over 1MSF of retail space is located in a 1-mile radius boasting a 0.7% vacancy rate (nearby retailers: Walmart Supercenter, Staples, Hwy 55, Goodwill, Buffalo Wild Wings, and Subway)
- Over 16K SF of absorption YoY
Accessible Location
- Right in and right out of Harrison Avenue with cross access through the adjacent shopping center, with a dedicated turn lane into the shopping center
Synergies with Nearby Auto Users
- Synergies with nearby auto users help drive tenant sales
- Three auto deals in the immediate area (GM of Butte, Butte Doge, Butte Subaru, and Denny Menholt Ford)