Investment Highlights

RARE 15-YEAR CORPORATE GROUND LEASE WITH 10% INCREASES
» NNN lease with no landlord responsibilities
» Improvements vest to landlord at the end of term
» 10% rental increases every five years in initial term and option periods, providing a hedge against inflation

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Hard corner location with excellent access and visibility to 52,292 vehicles per day directly in front of the site
» Immediate access to Mopac Expressway (120,717 AADT)
» Excellent location in dense retail corridor near major national tenants, including Walmart Supercenter, Home Depot, Fry’s, H-E-B, Neiman Marcus, Half Price Books, and many others

CENTRAL LOCATION WITH ROBUST DEMOGRAPHICS
» Close proximity to several large employers, including Dell’s corporate headquarters (13,000 employees) and Apple’s new Austin campus (3,000+ employees)
» Within walking distance of the 378-bed St. David’s North Austin Medical Center, named one of the nation’s top 100 hospitals
» 290,878 residents and 202,234 daytime employees within a five-mile radius, providing a large customer base

DYNAMIC TENANT SERVING A PRACTICAL NEED
» Drive-thru oil change in less than five minutes, with the customer remaining in their vehicle during service
» Subsidiary of Driven Brands, Inc. (2,000+ units with over $2.1 billion in annual sales)
» Poised for explosive growth

Click Here to Download Offering Memorandum

Property Description

SOLD

The property is strategically located at the hard corner of West Parmer Lane and Tomanet Trail, with excellent access and visibility to 52,292 vehicles per day directly in front of the site. The property enjoys immediate access to Mopac Expressway, a heavily traveled route with a high traffic count of 120,717 vehicles per day. Located in a dense retail corridor, the property is surrounded by notable national retailers and large shopping centers. The site is directly adjacent to Parmer Crossing, a large retail center tenanted by Fry’s, Big Lots, Dollar Tree, Harbor Freight Tools, Half Price Books, and many others. The property is also across from The Market at Parmer Lane, anchored by H-E-B. The Domain, a high-density office, retail, and residential center, is just minutes from the property and features upscale retailers, including Neiman Marcus, Anthropologie, Tesla, Burberry, and Coach, among others. The property is also located near Tech Ridge, another developing residential, commercial, and retail area, featuring several shopping centers anchored by well-known tenants, including Walmart Supercenter, Lowe’s, Home Depot, Kohl’s, Ross, PetSmart, and JCPenney.

The property is located in Austin’s high tech corridor, with close proximity to several major employers. High tech employers located near the property include Samsung Austin Semiconductor, with more than 6,000 employees; Dell’s corporate headquarters, which houses 13,000 employees; and Apple’s new Austin campus, the company’s largest campus outside of its corporate headquarters, which currently holds more than 3,000 employees and is expected to accommodate up to 7,000 employees once it’s completed. The property is also within walking distance of the 378- bed St. David’s North Austin Medical Center and is just over two miles from the University of Texas at Austin’s J.J. Pickle Research Campus, both major areas of employment in the region. In total, 202,234 daytime employees work within a five-mile radius of the property. The property is also located near several large schools and dense residential neighborhoods, with a population of 290,878 within a five-mile radius.