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Get In TouchNAPA Auto Parts | New Britain, CT
Genuine Parts Company (NAPA)
300 South Main Street, New Britain, CT 06051, USA
Sands Investment Group is Pleased to Exclusively Offer For Sale the 8,220 SF NAPA Auto Parts Absolute NNN Located at 300 South Main Street in New Britain, CT. This Deal Includes a Rare Absolute NNN Lease Providing Zero Landlord Responsibilities and Seasoned Location – Build-to-Suit For Napa With Almost a 30-Year Operating History, Providing For a Secured Investment
- Rare Absolute NNN Lease Providing Zero Landlord Responsibilities
- Corporate Guaranteed Lease From Genuine Parts Company. Investment Grade (BBB S&P) | Parent Company of NAPA Auto Parts
- Seasoned Location – Build-to-Suit For Napa With Almost a 30-Year Operating History
- Significant Site Commitment – Tenant Renewed Early and Without Any Negotiation Showcasing Their Continued Commitment to Proven Location
BoR: Andrew Ackerman – Lic. CT #REB.0792529
Genuine Parts Company (NAPA)
300 South Main Street, New Britain, CT 06051, USA
NAPA AUTO PARTS
The National Automotive Parts Association (NAPA), also known as NAPA Auto Parts, founded in 1925, is an American retailers’ cooperative distributing automotive replacement parts, accessories and service items in North America. Today, NAPA-branded stores and AutoCare Centers continue to serve auto service professionals, do-it-yourselfers and everyday drivers with quality parts and supplies to keep cars, trucks, and equipment performing safely and efficiently. Today, the NAPA Network offers 800,000+ unique parts, distributed across 6,000+ NAPA Auto Parts stores and 18,000+ NAPA Auto Care centers throughout the United States. Over the years, Genuine Parts began to acquire the other NAPA member companies, and in 2012 became the last remaining member of NAPA, a brand with a reputation for quality parts, rapid availability, and knowledgeable people. Genuine Parts Company, founded in 1928, is a global service organization engaged in the distribution of automotive and industrial replacement parts. The company serves hundreds of thousands of customers from a network of more than 10,000 locations in 15 countries and has approximately 50,000 employees.
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Price
$1,615,796
Cap Rate
6.50%
PREMISES
8,220 SF
RENEWAL OPTIONS
3 x 5 Year Options
Lease Expiration
08/01/2029
Lease Type
Absolute NNN
RENTAL INCREASES
7.5% Increase at Last 6 Months of Each Option
BROKERS
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To receive access to this OM, please review and sign our confidentiality agreement:
Sands Investment Group (“Broker”) is presenting for sale the Subject Property (“Property”) referenced above, by the Property’s owner (the “Owner”). Our agreement with the Owner requires that we obtain a Non-Disclosure before disclosing the name and location of his/her location of his/her business. The undersigned (“Recipients”) hereby acknowledge and agree that certain confidential information that has been or may be disclosed is intended solely for Recipients’ limited use in considering whether to pursue negotiations to acquire the Property.
Neither the Owner of the Property nor Broker or any of their respective officers, employees or agents, make any representation or warranty, expressed or implied, as to the accuracy or completeness of this confidential information and no legal liability is assumed or shall be implied with respect thereto. Information provided has been or will be gathered from sources that are deemed reliable; however, neither Owner nor Broker warrants or represents that the information is true or correct. Recipients are advised to verify information independently. Owner and/or Broker reserve(s) the right to change the Property’s purchase price, or any Property or market information provided, or to withdraw the Property from the market at any time without notice.
Recipients agree that the information provided by Broker is confidential and as such, agrees to hold and treat such information in the strictest of confidence. In addition, Recipients agree not to disclose, directly or indirectly, or permit anyone else to disclose this information to any person, firm or entity without prior written authorization of Owner or Broker and not use, or permit to be used this information in any fashion or manner detrimental to the interests of Owner or Broker. Photocopying or other duplication of such confidential information is strictly prohibited. Recipients agree not to contact the Property’s tenant(s), leasing brokers, or property management staff in connection with Recipients’ review of the Property or confidential information. IN ADDITION, THE CONFIDENTIAL INFORMATION SHALL NOT BE DEEMED AS REPRESENTATIVE OF THE STATE OF AFFAIRS OF THE PROPERTY OR CONSTITUTE AN INDICATION THAT THERE HAS BEEN NO CHANGE IN THE BUSINESS OR AFFAIRS OF THE PROPERTY SINCE THE DATE OR PREPARATION OF THE OFFERING MEMORANDUM.
While Owner and/or Broker may discuss the purchase and sale of the Property with Recipients, either Owner or Broker, in our sole and absolute discretion, may terminate sale discussions at any time and for any reason. Recipients acknowledge that neither Owner nor Broker has any obligation to discuss or agree to the sale of the Property. The acquisition discussions may be lengthy and complex. Notwithstanding that the parties may reach one or more oral understandings or agreements on one or more issues, neither of the parties shall be bound by any oral agreement of any kind, and no rights, claims, obligations or liabilities of any kind, either expressed or implied, shall arise or exist in favor of or be binding upon either Owner or Broker except to the extent expressly set out in a written agreement signed by both Owner and Broker.
This letter will further confirm that Recipients understand that Broker is presenting the information on the above-referenced Property and that Recipients agree that all initial correspondence and agreements pertaining to the opportunities and subsequent purchase shall be submitted through Agent. Prospective Buyer shall not contact the Owner directly unless given written permission by Agent or act either directly, indirectly, through any third parties including affiliates, other clients or other brokers to circumvent the purpose of this Agreement.
The term of this Agreement is for one (1) year from the date below, which shall be automatically extended through any ongoing negotiations, escrow periods or closing of any purchase and sales transaction(s) for the opportunity entered into by Prospective Buyer or its affiliates during the term hereof.
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