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| National Tire & Battery |
504 Earl Rudder Freeway South, College Station, Texas
Purchase price: $3,028,555
• Twenty-Five (25) year Primary lease
• Absolute NNN (Triple Net Lease)
• Three (3) 5-year options
• Fixed rental increase based on CPI not to exceed 12%
Land Area: ± 2.82 Acres, Building Area: ± 8,074 SF |
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Willis Ventures is excited to announce that our brokerage has closed escrow on a National Tire & Battery in College Station, Texas. The property sold for $3,028,555 with a 6.35% capitalization rate.
TBC Corporation is the nation’s largest vertically integrated marketer of tires for the automotive
replacement market. The Company’s retail operations include Company-operated tire and automotive service centers under the “Tire Kingdom”, “Merchant’s Tire & Auto Centers” and “National Tire & Battery” brands, and franchised stores under the “Big O Tires” brand. TBC markets on a wholesale basis to regional tire chains and distributors serving independent tire dealers throughout the United States, Canada, and Mexico. Through its Carroll Tire wholesale distribution centers, the Company also markets directly to independent tire dealers in the eastern and southeastern United States. TBC’s five proprietary brand of private label tires, which include Multi-Mile, Cordovan, Sigma, Vanderbilt, and Big O, are produced by nationally recognized manufacturers and have a reputation for quality, safety, and value. These brands are distributed through TBC Private Brands to wholesalers also throughout the United States, Canada, and Mexico.
In 2005, TBC Corporation was purchased by Sumitomo Corporation of America (SCOA) ending its 22 year stint as a publicly traded company. SCOA is the largest subsidiary of Sumitomo Corporation (SC), one of Japan’s major integrated trading and investment business enterprises.
The subject property is located in College Station, Texas. College Station is the home of the Texas A&M main campus, and is situated 97 miles northwest of Houston. Some of the other national tenants within a six (6) mile radius include: H-E-B Foods, Albertsons, Kroger, Target, Sam’s Club, CVS, Wal-Mart, Eckerd, Best Buy, Sears, Lowe’s, Office Depot, Chili’s, Wingstop, Olive Garden, and Whataburger. National Tenants in the imediate area of the subject property include: Texas Roadhouse, Talbots, Starbucks, Circuit City, Petsmart, and Home Depot.
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