TGK Automotive – Chandler, AZ_Property for Sale

6835 W Chandler Blvd, Chandler, AZ, 85226-3348, US

TGK Automotive – Chandler, AZ

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee-simple interest in an automotive service provider located in Chandler, Arizona. TGK Automotive recently signed a 15 year lease featuring annual rent bumps with a guarantee from Sun Auto Tire and Service. Sun Auto, an industry leading automotive service provider recently acquired TGK Automotive and now serves over two million customers annually. Sun Auto Tire & Service owns and operates over 27 brands in 17 states across 400 locations. Additionally, the company boasts $91 million in total earnings for 2021. The Property is situated within a high growth submarket of Chandler with a high concentration of businesses and employees. This triple net investment presents a unique opportunity to obtain a strong income stream from a credit tenant surrounded by affluent demographics.

...

Attributes

Asking Price

MYR 40,368,000

Building area Gross

1,026 m²

Occupancy

100.00%

Year built

2003

Cap Rate

6.25%

NOI

MYR 2,524,000

Media

Investment Highlights

The Tenant is on an Absolute NNN Lease providing zero landlord responsibilities
TGK Automotive has recently been acquired by Sun Auto Tire & Service expanding their customer base, revenue, and services
The lease features a corporate guaranty from a national automotive operator boasting $91 million in 2021 earnings
Sun Auto Tire & Service owns and operates 27 brands in 17 states across 400 locations
Recently executed 15 year lease with annual escalations, providing a strong hedge against inflation