The subject property offers a 10-Year, double net (NN) lease. There are two, five-year tenant renewal options with rental increases every five years in both base term and option periods.
Advance Auto Parts is located in a busy retail area with strong demographics. It is strategically positioned and surrounded by national retailers including the Home Depot, Aldi, Family Dollar, Dollar Tree, Aaron’s, Save-a-Lot, Walgreens, Walmart Supercenter, Chili’s, McDonald’s, Jimmy John’s, Tim Horton’s and many more.
Advance Auto is in a prime retail corridor six miles from Muskegon Community College and Grand Valley State University Muskegon campus. It is located just five miles from Muskegon County Airport and less than three miles from downtown Muskegon. This property is within close proximity to Lake Michigan and Interstate 96. The city of Muskegon is less than 40 miles from Grand Rapids, the second largest city in Michigan.
Advance Auto Parts, Inc. is the largest North American retailer of automotive after-market parts, accessories, batteries and maintenance items. Advance Auto Parts operates more than 5,200 stores and more than 100 distribution branches. It serves approximately 1,325 independently-owned Car-Quest stores in the United States, Canada, Puerto Rico and the U.S. Virgin Islands. The Company employs approximately 74,000 team members.