Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the single-tenant Valvoline located at 26605 US-380 in Providence Village, Texas (the “Property” or “Asset”). The newly constructed Property is secured by a 15.0-year absolute NNN ground lease (14.7 years remaining) featuring 10.0% rental increases every five years and three, five-year renewal options.

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Attributes

Asking price

₹209,571,000

Cap rate

5.25%

NOI

₹11,005,000

Building area net

171 m²

Year built

2026

Land area gross

0.31 ha

WALT

14.7 years

Media

Investment Highlights

New construction corporate Valvoline GL with corporate guaranty
Absolute NNN with zero landlord responsibilities
±14.7 years of term remaining with 10% rent escalations every 5 years
Sprouts Farmers Market grocery store outparcel; nearest other location is 9+ miles away
$140K average household income within 1 mile radius
287% population growth since 2010 within 3 mile radius
Frontage along US 380 with accessibility to 45,000 VPD
In proximity to University of North Texas and Texas Woman’s University (62,000+ students)
Valvoline: 18 consecutive years of system wide same store sales growth
#2 largest oil change chain in the world