Advance Auto Parts

Highlights:

• COMMITMENT TO LOCATION: Advance Auto Parts has reinforced its dedication to this location through a recently executed 10-year lease extension, providing long-term income stability.
• MINIMAL LANDLORD RESPONSIBILITIES (STRUCTURE ONLY): Landlord obligations are limited solely to the building’s structure, ensuring a low-management, passive investment.
• PROXIMITY TO ADVANCE AUTO PARTS HEADQUARTERS: Located approximately ±12 miles from Advance Auto Parts’ corporate headquarters in Raleigh, NC, enhancing the tenant’s operational presence and commitment.
• AFFLUENT AREA: The property benefits from a high-income consumer base, with an average household income exceeding $136,154 within a three-mile radius.
• THRIVING POPULATION: The surrounding area supports over ±33,453 residents within a three-mile radius and over ±91,184 residents within a five-mile radius
• BOOMING DEVELOPMENT: Located across the street from a new construction, Publix-anchored, shopping center and less than a mile from Cobblestone Village- a new construction mixed use development with 188 modern apartments and 55,000+ SF of retail space
• PUBLICLY TRADED TENANT: Advance Auto Parts is a publicly traded company listed on the NYSE (AAP), providing investors with financial transparency and stability.
• STRONG CREDIT RATINGS: The tenant holds a BB+ credit rating from S&P Global and a Baa3 rating from Moody’s, reflecting a stable and reliable financial standing.

Documents: