9523 PULASKI HWY Middle River MD 21220-2419

Advance Auto Parts, Inc. is a leading automotive aftermarket parts retailer with a nationwide presence serving both professional installers and do-it-yourself consumers. As one of the largest operators in the auto parts retail segment, the company benefits from strong brand recognition, a diversified customer base, and a long operating history dating back to the early 20th century. Its scale, established supply chain, and dual-channel retail strategy position it as a key participant in a resilient industry driven by ongoing vehicle maintenance needs.

Founded in 1932 and headquartered in Raleigh, North Carolina, Advance Auto Parts is a publicly traded company listed on the New York Stock Exchange under the ticker AAP. The company operates approximately 4,300-4,800 locations across the United States, Canada, Puerto Rico, and the U.S. Virgin Islands, including both corporate stores and independently operated locations. Advance Auto Parts employs over 62,000 individuals and maintains a significant footprint through its Advance Auto Parts and Carquest brands. The company is generally rated below investment grade, with an approximate S&P credit rating of BB+ (non-investment grade), and does not maintain a widely published Moody's rating.​

Middle River, Maryland is a growing waterfront community within the Baltimore metropolitan area that benefits from strong regional connectivity, diverse employment opportunities, and proximity to major transportation infrastructure.​ Located along the eastern edge of Baltimore County near the Chesapeake Bay, the area has evolved into a desirable suburban market supported by stable residential demand and expanding logistics, aerospace, healthcare, and maritime-related industries.​ Residents benefit from access to Interstate 95, Interstate 695, the Port of Baltimore, and MARC commuter rail service, creating efficient connectivity to downtown Baltimore, Washington, D.​C.​, and major Mid-Atlantic employment hubs.​

The community's housing base includes a mix of established neighborhoods, newer suburban developments, and waterfront residential areas that continue attracting families and workforce households seeking affordability relative to nearby urban cores.​ Retail corridors throughout eastern Baltimore County support day-to-day consumer demand, while nearby White Marsh and downtown Baltimore provide additional employment and entertainment access.​ The presence of Martin State Airport, major industrial employers, healthcare systems, and distribution facilities strengthens the local economy and contributes to long-term regional stability.​ Continued public and private investment throughout the Baltimore region supports Middle River's positioning as a strategically located suburban market with access to both residential and employment growth drivers.​

• 2016 build-to-suit construction for Advance Auto Parts
• Recent long term lease extension, proving the tenants commitment to the location and market
• ±9.5-Years remaining on the base term of a NNN lease, with Three, 5-Year extension options
• Corporately guaranteed lease from Advance Auto Parts
• 5-Mile population of 236,426 residents
• Affluent demographics with an average household income of $114,609 annually
• Middle River is located roughly 15 minutes from downtown Baltimore
• Advance Auto Parts (NYSE: AAP) is one of the nation's largest automotive aftermarket parts providers, serving both professional installers and do-it yourself customers.
• Lease is corporate guaranteed by Advance Stores Company, Inc. (S&P Rated BB)
• Considered an essential retailer, Advance Auto Parts has maintained consistent operations and rent payments, including throughout the COVID-19 pandemic.
• Trusted National Brand: A widely recognized name in the automotive aftermarket with over ±4,700 stores and an expansive network of Carquest and independent locations.
• Stable Revenue and Market Demand: Generates over $9 billion in annual revenue, supported by resilient demand across DIY and professional customer segments
• Operational Restructuring Underway: A multi-year transformation plan—focused on store optimization, cost reduction, and supply chain consolidation—is expected to enhance margins and long-term profitability.
• Strategic Refocus via Asset Sale: The $1.5 billion divestiture of its Worldpac unit strengthens the balance sheet and allows focus on core retail operations.
• Credit Ratings with Upgrade Potential: Currently rated BB+ (S&P) and Ba3 (Moody's) with stable liquidity and restructuring initiatives offering potential for future improvement.
• Tailwinds from Aging Vehicle Fleet: The increasing average vehicle age in the U.S. supports long-term demand for aftermarket parts and services.
• Retail Adaptability: Leveraging digital platforms, loyalty programs, and customer analytics to drive engagement and sales efficiency.