Property History
SRS National Net Lease Group is pleased to present the opportunity to acquire the fee simple interest (land and building ownership) in an Advance Auto Parts property located in Parker, Colorado. Built in 2005, the lease has approximately 10+ years remaining in the current term with three (3) – five (5) year options. Advance Auto Parts recently committed to an 8.75 year extension of the lease, reflecting their strong commitment to this location. The lease is NNN in nature as Advance Auto Parts is solely responsible for roof, parking lot, and HVAC. The lease is guaranteed by Advance Stores Company, Inc. (NYSE: AAP) with an investment grade credit rating of BBB- from Standard & Poor’s.
The subject property is strategically located on Jordan Road, a six-lane thoroughfare with traffic counts in excess of 24,400 vehicles per day. Parker is located in Douglas County – the most affluent county in Colorado – and the #5 richest county in America. Parker is located 23 miles southwest of Denver and 56 miles north of Colorado Springs. The 5-mile trade area is supported by a dense growing population of 126,141 residents with an affluent average household income in excess of $127,500.
ADVANCE AUTO PARTS CORPORATE GUARANTEED LEASE:
• 10 Years Remaining in the Current Term
• Tenant Recently Extended Their Lease for an Additional 8.75 Years, Reflecting their Strong Commitment to this Location
• Three (3) - Five (5) Year Option Periods with Increases; 15% at Option 1 and 5% at Options 2 & 3
• High Quality Upgraded (All Brick) Construction
NNN LEASE | MINIMAL LANDLORD RESPONSIBILITIES:
• Tenant Responsible for Roof, Parking Lot, and HVAC
• Landlord Responsibilities Limited to Slab & Structure
• Ideal, Management-Free Investment for an Out-Of-State, Passive Investor
PARKER, COLORADO:
• Located 30 Minutes from Downtown Denver, in Colorado’s Fastest Growing County
• Parker Boasts a Highly Talented and Educated Workforce, a Quality of Life that Balances Rural Living with the Conveniences and Amenities of a Large City
• Enjoys Easy Access to Denver, Colorado Springs and the Rest of the Front Range Via the E-470 Toll Way, I-25, and Public Transportation
• Denver International Airport (DIA) is Located 30 Minutes Away, and Centennial Airport, a General Aviation Airport, is Located Just 10 Minutes Away
• As of November 14, 2017, Retail Sales in Parker were Projected to be About $1.4 Billion in 2017
• #4 “Best Places to Raise a Family in Colorado” – WalletHub (2017)
• #39 “101 Safest Cities in America with Population of 50,000+” – SafeHome (2017)
DOUGLAS COUNTY:
• Recognized for Being One of the Most Family Friendly Communities in Colorado, Offering a Quality of Life Unmatched Elsewhere in the State
• For the Fourth Year in a Row, Douglas County, Colorado Ranks in the Top Ten Happiest Counties in the United States
• Douglas County’s Jobless Rate is the Lowest in Metro Denver at 2.5 Percent
• In 2018, Douglas Ranked No. 1 in Colorado for Overall Health Behavior for the Eight Consecutive Year
• #5 “Top 10 Richest Counties in America” – Forbes (2017)
• Of All U.S. Counties with Population of 65,000 or Greater, Douglas County Ranked 4th for Highest Percentage of Residents with an Associate’s, Bachelor’s, or Graduate or Professional Degree
• 3,660 New Housing Permits Issued in 2016 (11.6% Increase from 2015) and 3,956 New Housing Permits Issued in 2017 (8.1% Increase from 2016)
• Approximately 843 Square Miles, of Which 63,037 Acres are Permanently Protected Land Through the Douglas County Open Space Program
• Recreational Areas Include More than 146,000 Acres of Pike National Forest, Roxborough State Park, Castlewood Canyon State Park and Chatfield State Recreation Area
TRADE AREA DEMOGRAPHICS:
• 1-Mile:
• 17,376 Residents | $119,832 Average Household Income
• 1.44% Annual Population Growth Projected Over the Next 5 Years
• 3-Mile:
• 59,814 Residents | $116,452 Average Household Income
• 2.80% Annual Population Growth Projected Over the Next 5 Years
• 5-Mile:
• 122,359 Residents | $126,929 Average Household Income
• 2.57% Annual Population Growth Projected Over the Next 5 Years
TENANT:
• Advance Auto Parts (NYSE: AAP) Features Investment Grade Credit “BBB” by Standard & Poor’s
• 5,026 Stores as of July 14, 2018
• Shares of Advance Auto Parts Inc. Have Nearly Doubled in Price Since November 2017
• Market Cap of $12.28 Billion as of October 5, 2018
• Ranked #317 on the Fortune 500 List
Loan History
Financial History
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