Sunrise, FL - Advance Auto Parts

Description:

• Advance Auto Parts has recently exercised their first option, which will commence November 1, 2024
• The tenant has 2 (5-year) options remaining
• The lease features $0.50/SF increases at the beginning of each option period, increasing NOI and hedging against inflation
• Founded in 1932, Advance Auto Parts operates over 4,700 stores and 320 Worldpac branches in the United States, Canada, Puerto Rico and the U.S. Virgin Islands

• The asset, positioned at a signalized, hard corner intersection (79,800 VPD), is an outparcel to the Inverrama Shopping Plaza, which ranks in the top 69%(5,418 out of 17,562) of all nationwide strip centers
• The site is located in a dense, infill trade area 1 mile West off the FL Tpke
(142,000 VPD), allowing users to benefit from easy on/off ramp access to the site and surrounding Fort Lauderdale trade areas
• The surrounding residential developments will provide a direct consumer base from which to draw
• Placer.ai Data
• This Advance Auto Parts location ranks in the top 98% (70 out of 4,195) of all nationwide locations
• The adjacent Publix ranks in the top 93% (86 out of 1,325) of all nationwide locations