Overview

Description

• Brand-new 15-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site
• Brand-new construction featuring distinct design elements and state of the art materials selected specifically for O’Reilly Auto Parts
• The lease is corporate signed by O’Reilly Automotive, Inc.
• The lease features a 6% rental increase in lease year 11 and at the beginning of each option period
• As of September 30, 2022, the Company operated 5,929 stores in 47 U.S. states and 42 stores in Mexico
• O’Reilly Automotive last announced its quarterly earnings in April 2023 – and they did not disappoint. The specialty retailer reported EPS (earnings per share) of $8.28 for the quarter, surpassing analysts’ expectations by $0.28
• O’Reilly Automotive generated revenue of $3.71 billion compared to analyst estimates of $3.58 billion – marking a growth rate of 12.5% year-over-year; highlighting successful execution on its business strategies

• The asset is strategically fronting Wesley Chapel Blvd averaging 20,000 VPD
• Located 1.5 miles from Interstate 75 (73,800 VPD), providing direct on/off ramp access for travelers
• Interstate 75 is a major North/South commuter thoroughfare serving the entire state of Florida
• The asset has excellent visibility and multiple points of ingress/egres
• In close proximity to The Grove at Wesley Chapel, a 471,000 SF power center that is comprised of Dick’s Sporting Goods, Best Buy, PetSmart, Bed Bath & Beyond, Old Navy, TJ Maxx and more
• Other nearby national/credit tenants include Walmart Supercenter, Publix, Bealls, Ace Hardware and Walgreens
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for this site

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