Tesla Collision Repair - Phoenix, AZ_Property for Sale
Tesla Collision Repair - Phoenix, AZ_Property for Sale
18808 N 32nd St, Phoenix, AZ, 85050-2602, US

Tesla Collision Repair - Phoenix, AZ

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee simple interest in the newly-renovated Tesla Collision Repair Service Center at 18808 N 32nd St, Phoenix, AZ 85050 (the “Property”). This 39,306 square foot facility on 4.5 acres has been redeveloped with significant renovations for Tesla to operate a collision repair service center, part of Tesla’s broader mission to bring its collision repair services “in-house”.


As Tesla continues to deliver more cars, customer demand for mission-critical maintenance and collision repairs will rise in tandem. As such, Tesla announced in 2021 its plan to open collision centers throughout the country in key primary markets to support its growing customer base while also generating an additional recession-resistant income stream for the business.


The subject Property is 100% net-leased to Tesla, Inc. (NASDAQ: TSLA; Market Cap: ±$600 billion) with 10.0 years of primary term and two (2) 5-year renewal options, providing investors with a passive, long-term income stream with attractive contractual 3.00% annual increases in a dense infill Phoenix, AZ location.

...

Attributes

Asking Price
€12,154,000
Building area Gross
3,652 m²
Occupancy
100.00%
Year built
2001
Cap Rate
5.50%
NOI
€669,000

Media

Investment Highlights

IRREPLACEABLE REAL ESTATE IN A STRONG MARKET WITH HIGH VISIBILITY

  • Highly trafficked, prime infill location of the Phoenix market (central Phx submarket). Ideal frontage on 32nd St (17,589 vehicles per day) at the intersection of E Union Hills Dr (27,879 vehicles per day) and just blocks from the Hwy 51 and Hwy 101 interchange (250,000+ VPD)

OPTIMAL NET LEASE STRUCTURE WITH CONTRACTUAL 3.00% RENT INCREASES

  • NN lease with limited landlord responsibilities coupled with rare 3.00% annual rent increases

CORPORATE GUARANTY FROM INVESTMENT-GRADE MARKET LEADER (TESLA)

  • Tesla continues to experience strong growth as its production ramps up and the global population shifts to electric vehicles. Currently, Tesla's market cap makes it by far the most valuable automaker in the world and the credit agencies are bullish - Tesla's credit rating has been upgraded by six notches over the last 2+ years, currently a favorable investment-grade BBB (S&P) and Ba1 (Moody's).

MISSION CRITICAL COLLISION CENTER TO SUPPORT GROWING CUSTOMER BASE

  • In 2021, Tesla announced its plan to open several collision repair centers throughout the country, finally bringing its repair services "in-house" to best serve its customers while generating additional income by providing ongoing, recession-resistant maintenance and repair services.
  • This will be Tesla's first collision repair center in the Phoenix MSA
Tesla Collision Repair - Phoenix, AZ 4_Property for Sale
Tesla Collision Repair - Phoenix, AZ 4_Property for Sale

Contact brokers

Tesla Collision Repair - Phoenix, AZ (0 Properties)

Similar properties

View moreChevron Right
Do you have any questions? visit our FAQ page
View FAQ PageArrow Right
JLL can help you finance and manage your portfolio. Email us today to see how we can help achieve your ambitions.
Last updated
23 Jun 2023