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INVESTMENT HIGHLIGHTS
Absolute NNN Ground Lease w/ Future Rent Increases | Valvoline is operating under an absolute NNN ground lease with zero landlord responsibilities and approximately 15 years of base lease term remaining. The lease features 10% rent escalations every five years and at the beginning of each of the four, 5-year option periods, providing investors with a hedge against inflation and a boost to the overall investment yield.
Corporate Guaranty from 2nd Largest Quick Lube Chain | The lease is guaranteed by Valvoline, LLC (NYSE: VVV), the nation’s second largest quick lube chain with more than 1,850+ service center locations. The company currently holds a credit rating of BB/Stable from Standard and Poor’s and reported FY2023 net revenues in excess of $1.4 billion. Net revenues increased 16.8% over the prior year period due to system-wide SSS growth and store acquisitions.
New Construction at Signalized Intersection | The Property is a brand new construction and is strategically located at the hard corner, signalized intersection of Gateway Drive and Prill Road (19,700+ VPD). Prill Road is a significant thoroughfare known for its commerical development and serves as a major artery connecting various parts of Eau Claire. Additionally, the Property benefits from being at a busy intersection with two points of access into the site, providing the real estate with long-term residual value.
Dominant Retail Trade Area | The Property is located along the primary retail corridor in Eau Claire and is surrounded by many nationally recognizable retailers such as, Super Target, Walmart Supercenter, Sam’s Club, ALDI, Kohl’s, and Menards, driving consumer traffic into the area. Additionally, the site is just north of the Oak Pointe Plaza shopping mall which is filled with other prominent retailers, including T.J. Maxx, Best Buy, ROSS Dress for Less, and many more.
Proximity to I-94 Interchange | The Property is ideally situated on block east from the on/off ramps of U.S. Highway 53 and just one mile north from the I-94 and U.S. Highway 53 interchange, connecting Eau Claire to other major cities in the region like Minneapolis-St. Paul to the west and Milwaukee to the east. The stretch of I-94 passing through Eau Claire serves an important transportation route, allowing Valvoline to take advantage of commuters passing through the area.
Dense, Affluent Surrounding Demographics | The Property boasts exceptional dense, surrounding demographic base with over 68,300 residents within a 5-mile radius and Average Household Income levels of $96,432 within 3-miles of the Property.
