Northpark Village
US - Lubbock, TX
€9,470,000 | 6,548 m²
Asset Description
Jones Lang Lasalle Americas, Inc. (“JLL”) is pleased to offer for sale the fee-simple interest in a corporate Valvoline Instant Oil Change (the “Property” or “Asset”) located in Lebanon, OH. Valvoline (the “Tenant”) is a market leader in automotive preventative maintenance, with 1,740+ stores, and a market capitalization of $6 billion (as of April 2023).
The Property is being purpose-built for Valvoline, with the Tenant executing a new 15-year Absolute NNN Ground lease with rent expecting to commencement in August of 2023.
The Property sits within an active commercial corridor with frontage along Columbus Avenue (11,390 VPD). Directly across the street from the Property, the Lebanon North Center, with national tenants such as Vance Outdoors, Sherwin-Williams, and Peoples Bank, is in the top 30% of most visited strip-centers in Ohio, and in the top third in the nation (Placer.ai).
The Offering provides investors with the opportunity to acquire a new-construction, purpose-built Valvoline with 15 years of corporately-backed, passive income.
Bill Poffenberger
License #: OH - 352247
...
Attributes
Asking Price
€1,334,000
Building area Net
177 m²
Occupancy
100.00%
Year built
2023
Cap Rate
5.25%
NOI
€71,000
Media
Investment Highlights
Brand New Absolute NNN Ground Lease
- Zero landlord responsibilities with rent to commence for a 15-year term upon estimated construction completion in August 2023
Affluent, Dense Surrounding Community
- 35,680+ residents with an average household income of $119,300 live within 5 miles of the Asset
Adjacent to Top Strip Center with National Tenant Roster
- The Lebanon North Strip Center, with tenants such as Walgreens, Vance Outdoor, and Sherwin-Williams, is in the top third of all strip centers in the nation, by visits (placer.ai)
Cash Flow Guaranteed by Corporate Entity
- Valvoline, Inc. has achieved 16 years of consecutive same-store sales growth, operates over 1,740 locations and generated over $1.28 billion in 2022 revenue
Frontage Along Dense Lebanon Retail Corridor
- Situated along Columbus Ave (11,390 VPD) which runs directly into US-42 (21,950 VPD)
Contact brokers
Valvoline - Lebanon, OH (0 Properties)
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Last updated
15 May 2023
