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|Last Updated Date||26 Jun 2020|
JLL is pleased to offer for sale a recently-constructed, single-tenant O’Reilly Auto Parts, located in Clarksville, Tennessee. The property is well located in a dense retail and multifamily development corridor along Madison Street with traffic-driving tenants such as Lowe’s, Publix, McDonald’s, Chick-fil-A and countless more in the immediate vicinity.
As an overall market, Clarksville is projected for major growth over the next five years, as a mix of strong economic opportunities and a low cost of living have made it the fifth fastest growing city in the U.S. The economy is stabilized by many manufacturing companies, the Fort Campbell U.S. Army Base with over 50,000 military personnel and Austin Peay University with an enrollment of 10,500 students. Fort Campbell is an ideal target consumer base for a do-it-yourself auto parts store.
• Fee simple interest
• Net lease deal structure with over 16 years remaining
• Rental escalations starting in year 11 and four 5-year options for renewal
• Investment grade tenancy with O’Reilly’s Automotive boasting a ‘Baa1/Stable’ rating from Moody’s
• Projected 8% growth over the next 5 years within a 5 mile radius
• Five of the top nine Clarksville employers are involved in the automotive industry