|
 |
|
| Advance Auto Parts |
5109 Louetta Road., Spring (Houston), Texas
Purchase Price: $1,651,314
• Fifteen (15) Year Primary Lease Term
• NN Lease (Double Net)
• Three (3) x 5-year options
Land Area: ± .9 acres, Building Area: ± 7,000 SF
|
|
|
Willis Ventures is excited to announce that our brokerage has closed escrow on a Advance Auto Parts in Spring, Texas. The property sold for $1,651,314 with a 7.0% capitalization rate.
Advance Auto Parts (formerly Advance Holding) is the 2nd largest retailer of automotive parts and accessories after its 1998 acqisition of Sears, Roebuck’s Western Auto Supply and its 2001 purchase of Discount Auto Parts. With the acquisition of Kar Parts Auto Stores, Inc. in 2003, 19 stores operated by Lappen Auto Supply, Co., Inc. and 61 stores from Autopart International, Inc., also in 2005. Advance Auto Parts has solidifi ed their position as a Fortune 500 market leader operating more than 2800 stores in 40 states, Puerto Rico, and the Virgin Islands. Advance Auto Parts is partnered with online auto parts seller, PartsAmeric.com.
The site is located just off a high traffic and full access intersection within a half mile from major retailers including Walgreens, Randall’s Grocery, Papa John’s Pizza, Eckerd’s, Hollywood Video and Wells Fargo Bank.
|
|
