New NNN Valvoline Ground Lease - Phenix City, AL
Strong Demos | 5.25% CAP | Columbus, GA MSA
Marketing description
Valvoline Inc. (VVV), a leading worldwide marketer and supplier of premium branded lubricants and automotive services, was established in 1866 (150+ years of experience). In fiscal year 2024, the company reported revenues of $1.6 billion, marking a 12% increase from the previous year. System-wide store sales reached $3.1 billion, also reflecting a 12% growth.
Valvoline's network encompasses 2,045+ service center locations, comprising 950 company-operated and 1,060 franchised stores. This expansion represents a nearly 9% year-over-year increase in store count. The company's credit rating has been affirmed at 'BB' by S&P Global Ratings, with an issue-level rating on its unsecured debt at 'B+'. Valvoline's market capitalization stands at approximately $4.64 billion.
Investment highlights
- New 15-year Absolute NNN Ground Lease
- This Valvoline Ground Lease is corporately guaranteed by Valvoline LLC. Valvoline is the second largest oil change service provider in the United States with 10% market share
- 10% Rental Increases Every Five (5) Years and in each of the four (4) 5-year option periods
- No landlord management, with the tenant responsible for taxes, insurance and all maintenance, including roof, structure and parking lot
- Strategically Positioned Along US-431 Highway - A major commercial corridor in east Alabama, providing direct access to residential neighborhoods, retail centers, and downtown Columbus, GA
- High-Visibility Site - Prominent frontage with excellent visibility and strong traffic counts exceeding 40,496 vehicles per day along US-431
- Top-Performing Retail Corridor - Located near the #1 Starbucks in Alabama for customer visits (top 4% nationwide) and adjacent to a Walmart Supercenter ranked among the top 12% of Walmart locations nationwide (Placer.ai)
- Established Retail Trade Area - Surrounded by national and regional retailers including Home Depot, Aldi, Verizon, and multiple QSRs
- Dense Surrounding Population - More than 98,730 residents within a 5-mile radius with average household incomes exceeding $74,539
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