Strickland Bros - Absolute NNN - Corporate Guaranty
15 Year Lease - Absolute NNN - Rental Increases
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Long Term Lease – Zero Landlord Obligations Tenant is operating under a long-term fifteen (15) year true absolute NNN lease with zero landlord obligations.
Primary Term Rental Increases There are scheduled 10% rental increases every five (5) years throughout the lease term.
Brand New Construction Subject Property was constructed in Q3 2023.
Corporate Location As of year-end 2023, there were 227 Strickland Brothers locations comprised of corporately operated and franchisee operated. Subject Property is a corporately operated location.
Dense and Growing Demographics Within 5-miles, the population has grown to over 80,000 and the average household income is over $150,000. Within 10-miles, the population is over 415,000
Recession Proof Concept Based on US Bureau of Labor Statistics, the auto lube industry is growing at roughly 5% annually and currently at approximately $8BB per year. This is due to a number of factors, including the growing number of vehicles and demand for car ownership. Additionally, the average age of automobile on the road has increased recently to 12.6 years.
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