Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
NIY N/A
Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
NIY N/A

Documents

Enter the "Deal room" for exclusive documents related to this property.

The Deal Room features confidential documents related to this property. To access the Deal Room, you will need to be logged in. If you don't have an account, please create one. More questions? Visit our FAQ.
I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Building Area Net
Land Area Net ()
Occupancy 100.0 %

Asset Description

JLL is pleased to offer for sale the ground lease interest in a recent 2018 constructed automotive maintenance provider (the “Property” or “Asset”) located in Richmond, Texas. The Property is leased to Express Oil Change & Tire Engineers (the “Tenant” or “Company”), one of the largest automotive maintenance providers in the country. The tenant is operating on an absolute NNN ground lease with 16.7 years of primary term, 10% rental increase in year ten and zero landlord responsibilities. Positioned along FM 1093 on an outparcel to Walmart Supercenter, the Asset features outstanding surrounding demographics of 142,400+ residents, AHHI of more than $175,000 and consumer spending on automotive services that is nearly double the national average. This Property possesses excellent real estate fundamentals and presents the opportunity to acquire a long-term investment leased to a leading automotive maintenance tenant in an affluent suburb of Houston.


Investment Highlights

LEADING AUTOMOTIVE SERVICE TENANT

Expanding automotive maintenance provider with over 303 locations across 19 states and a 42-year operating history

Exceptional private-equity sponsorship in Golden Gate Capital who has successfully grown the company to one of the largest automotive maintenance providers in the county


OUTPARCEL TO WALMART SUPERCENTER

Anchored by Walmart Supercenter in the expansive Crossing at Katy Fulshear Shopping Center with leading national retailers such as PetSmart, Ross Dress for Less, and T.J. Maxx

Dense and highly affluent demographic base with over 142,400 residents and average household income of more than $175,000 within a 5-mile radius

Adjacency to FM 1093 & 1463 boasting combined traffic counts over 55,100 VPD


RAPID GROWTH HOUSTON MARKET

Booming Texas popularity primarily due to business-friendly and zero income tax environment

Accelerating Houston MSA population growth adding nearly 700,000 residents in the next five years

Nicknamed the Energy Capital of the World, Houston has become a corporate hub with the second-most Fortune 500 headquarters of any US municipality


CORPORATE NET LEASE STRUCTURE WITH ZERO LANDLORD RESPONSIBILITIES

The Tenant operates on an absolute triple-net ground lease with zero landlord responsibilities

Corporate-backed lease with 16.7 years of primary lease term and 10% rent escalation in year ten

Recent 2018 construction including four, five-year renewal options averaging nearly 14% rent increases every 5 years


Last Updated Date: 09 Nov 2021

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

Last Updated Date: 09 Nov 2021

¿Tiene alguna duda?  Visite nuestra página de Preguntas Frecuentes

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.