Firestone | Odessa, TX | New 10Yr Extension
RECENT LONG-TERM LEASE EXTENSION THROUGH 2036 DEMONSTRATES COMMITMENT TO LOCATION
Marketing description
SAB Capital is pleased to present the exclusive offering of a single-tenant, net-leased Firestone Complete Auto Care located in Odessa, Texas. The property is leased to Bridgestone Retail Operations, LLC, a subsidiary of Bridgestone Corporation (S&P: A- / Moody’s: A3), and features a recently executed long-term lease extension through March 31, 2036, demonstrating the tenant’s commitment to the location. The lease provides approximately 10 years of remaining term with 10% rental increases every five years and three additional five-year renewal options, offering durable, growing cash flow.
The asset consists of a ±12,624 square foot, purpose-built automotive service facility situated on 1.83 acres, featuring a functional 7-bay service configuration and strong frontage along Andrews Highway. The property benefits from its location within the Permian Basin, one of the most active energy-producing regions in the United States, supporting a stable workforce base and consistent demand for necessity-based automotive services.
Offered fee simple, the investment provides secure, credit-backed income with embedded rent growth, long-term tenant commitment, and covered land characteristics supported by favorable C-2 zoning, allowing for future flexibility and long-term residual value.
Investment highlights
- Recent Lease Extension | Firestone recently extended its lease through March 31, 2036, demonstrating long-term commitment to the location.
- Investment-Grade Tenant (S&P: A- | Moody’s: A3) | The lease is backed by Bridgestone Corporation, an investment-grade rated global operator and one of the largest automotive service providers worldwide, offering secure, credit-backed cash flow.
- High-Visibility Infill Location | Located along Andrews Highway (~20,000 VPD) with immediate access to Interstate 20 (~74,000 VPD), the property benefits from strong visibility, accessibility, and consistent consumer traffic.
- Strategic Position Within the Permian Basin | Odessa sits at the center of the Permian Basin, one of the most productive energy regions globally, supporting a stable workforce base and sustained demand for automotive and service-oriented retail.
- Purpose-Built Automotive Facility | ±12,624 SF building on 1.83 acres with 7-bay service configuration. Functional layout tailored to automotive use, supporting operational efficiency and long-term tenancy.
- Below Replacement Cost Basis | Low basis relative to replacement cost with C-2 (Light Commercial) zoning, supporting long-term optionality for repositioning or redevelopment.
- Proximity to Key Demand Drivers & Infrastructure Investment | Located near major regional anchors including Medical Center Hospital, Odessa Regional Medical Center, and Midland International Air & Space Port, and benefits from a $424M TXDOT highway expansion, enhancing long-term corridor growth.
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