Overview

Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a brand new, freestanding, absolute NNN leased, Firestone Complete Auto Care investment property located in Somersworth, New Hampshire. The tenant, Bridgestone Retail Operations, LLC, recently signed a brand new 15-year lease with 5 (5-year) options to extend, demonstrating their commitment to the site. The lease features 5% rental increases every 5
years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The tenant is is a wholly owned subsidiary of Bridgestone (S&P: A), the largest tire manufacturer in the world. With an estimated grand opening in May 2021, this brand-new build will boast a modern, attractive facade built using high-quality materials and techniques. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

Firestone is located along High St., a major north/south thoroughfare in the town of Somersworth with over 20,000 vehicles passing by daily and features convenient access, ample frontage, and excellent visibility. The subject property is located just south of a Walmart Supercenter, Target, and Home Depot, and benefits from greatly increased consumer traffic due to its proximity to these major tenants. Firestone is also located just north of Tri-City Plaza and Shaws Plaza Shopping Center in the heart of a primary retail corridor. Other nearby national/credit retailers in these centers include T.J. Maxx, Shaw’s, Petco, Bed Bath & Beyond, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 58,400 with an average household income of $81,700.

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