Early Lease Extension: O’Reilly Auto Parts recently committed to a 7-year lease extension at the location, bringing the term of the lease to 7 years ending in October 2031.
Long Term Tenancy: This site has been operating as an auto parts retailer for 25 years.
Automotive Capital of America: The Detroit MSA has long been known as the automotive capital of America with Ford, Chrysler & General Motors all Headquartered in the area. General Motors Flint Assembly plant is the longest running assembly plant in North America – Operating since 1947 with over 5,000 employees.
Below Market Rents: Operating out of a ±10,000 SF building, O’Reilly is paying nearly ½ market rent.
Best in Class Tenant: O’Reilly Auto Parts ($ORLY) features a market cap of ±$80B, including a BBB (S&P) investment grade credit rating.
High Visibility: Located along W Pierson Rd and less than a mile from interstate-75, O’Reilly benefits from seeing over ±12,000 vehicles daily.
Ideal Demographics: Flint’s demographics feature over 260,000 residents in a 10-mile radius with an average household income of $60,000. These demographics fit the O’Reilly Auto Parts “Do it yourself” customer base that has grown the company to over 6,000 stores nationwide.
Former CSK Auto Inc: In April of 2008, O’Reilly signed a deal to acquire all of CSK Auto Inc’s. common stock and debt for approximately $1 Billion; taking roughly 3 years to rebrand several hundred stores to O’Reilly Auto Parts, this rapidly expanded their operations and has made O’Reilly one of the most dominant auto parts retailers.