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Auto Service - Gas-Conv

Circle K Sale Leaseback

2909 E South Blvd, Montgomery, AL 36116

Listing Price: $4,130,000

Cap Rate
5.50%
Tenant Name
Gas Express, LLC d/b/a Circle K
Guarantor
Franchisee Guarantee
Rentable SF
3,600
Lease Type
Absolute Net
Rent Per Square Feet
$63.08

Investment Overview

STRONG REAL ESTATE FUNDAMENTALS - Brand new 2021 construction - Strategically located off E South Boulevard ±6 miles from downtown Montgomery - Direct access to a 4-way signalized intersection - Located along Governors Drive which is the main ingress/egress road for three (3) apartment complexes with a combined 350 units - Directly across the street from Trenholm State Community College – ±2,000 students & staff - Strong daytime population counts of ±7,420 (1-mi), ±66,772 (3-mi) & ±160,014 (5-mi) - Permanent population counts of ±10,648k (1-mi), ±68,122k (3-mi) & ±136,823k (5-mi) - Flat topography with strong visibility along E South Blvd. - Outparcel to large academic and professional hub occupied by: › Montgomery Prep Academy for Career Technologies: eleven career focused majors that are designed to prepare students for the workforce, follow on educational opportunities and military service › Loveless Academic Magnet Program (High School): stringent college preparatory curriculum prepares students who are interested in pursuing careers in medicine, applied science, government and similar areas of distinction for admission to the most prestigious college programs in the nation › Montgomery Regional Workforce Training Center: provide entry-level training, existing employee upgrade training, two-year technical college level training, and K-12 career training to adequately supply businesses with a trained workforce for the Montgomery region OPTIMAL LEASE STRUCTURE - Attractive 20-year sale-leaseback - Four (4), 5-year renewal options - 10% rent escalations every 5 years throughout entire lease - Triple net (NNN) lease with NO landlord responsibilities - Tax advantages with accelerated depreciation due to fee simple ownership LARGE FRANCHISEE & DOMINANT BRAND - Largest Circle K franchisee - Exclusive Circle K franchisee in Metro Atlanta - Expanding 93+ unit operator across 4 states (AL, AR, GA, LA) › Currently operate 50+ Circle Ks in Georgia - 26+ year operating history - Circle K is an international brand with 15,000+ locations in 20 countries (corporate) MONTGOMERY, AL ADVANTAGE - Home to Alabama’s state capital - Gross Metro Product of $18.6 B (2019) - Low cost of living at 8% below national average (per Forbes) - Major industries include education and defense - Home to Maxwell Air Force Base › Educational and technological center of the US Air Force › Average fiscal economic impact of ±$1 annually › Mission critical military installation as home to Air University › 17,000+ military, civil service and contracted personnel & 34,000 students - Other Top Employers › Baptist Health: +4,300 employees › Hyundai Motor Manufacturing Alabama, LLC: +3,500 employees › Assembly plant for Sonata and Elantra sedans and Santa Fe SUV › HMMA and its suppliers have an annual economic impact of $4.82 B to the State of AL’s economy › ALFA Insurance Companies: +2,500 employees

Investment Highlights

  • Direct access to a 4-way signalized intersection
  • Located along Governors Drive which is the main ingress/egress road for three (3) apartment complexes with a combined 350 units
  • Directly across the street from Trenholm State Community College – ±2,000 students & staff
  • Outparcel to large academic and professional hub occupied by Montgomery Prep Academy for Career Technologies, Loveless Academic Magnet Program (High School), and Montgomery Regional Workforce Training Center
  • Strong daytime population counts of ±7,420 (1-mi), ±66,772 (3-mi) & ±160,014 (5-mi)
  • Largest Circle K franchisee

Broker of Record

  • Eddie Greenhalgh

    First Vice President Investments

    (205) 510-9200

    License(s) AL: 0000882980

    Alabama

Auto Service - Gas-Conv

Circle K Sale Leaseback

Listing Price: $4,130,000

Cap Rate
5.50%
Tenant Name
Gas Express, LLC d/b/a Circle K
Guarantor
Franchisee Guarantee
Rentable SF
3,600
Lease Type
Absolute Net
Rent Per Square Feet
$63.08

Investment Highlights

  • Direct access to a 4-way signalized intersection
  • Located along Governors Drive which is the main ingress/egress road for three (3) apartment complexes with a combined 350 units
  • Directly across the street from Trenholm State Community College – ±2,000 students & staff
  • Outparcel to large academic and professional hub occupied by Montgomery Prep Academy for Career Technologies, Loveless Academic Magnet Program (High School), and Montgomery Regional Workforce Training Center
  • Strong daytime population counts of ±7,420 (1-mi), ±66,772 (3-mi) & ±160,014 (5-mi)
  • Largest Circle K franchisee

Investment Overview

STRONG REAL ESTATE FUNDAMENTALS - Brand new 2021 construction - Strategically located off E South Boulevard ±6 miles from downtown Montgomery - Direct access to a 4-way signalized intersection - Located along Governors Drive which is the main ingress/egress road for three (3) apartment complexes with a combined 350 units - Directly across the street from Trenholm State Community College – ±2,000 students & staff - Strong daytime population counts of ±7,420 (1-mi), ±66,772 (3-mi) & ±160,014 (5-mi) - Permanent population counts of ±10,648k (1-mi), ±68,122k (3-mi) & ±136,823k (5-mi) - Flat topography with strong visibility along E South Blvd. - Outparcel to large academic and professional hub occupied by: › Montgomery Prep Academy for Career Technologies: eleven career focused majors that are designed to prepare students for the workforce, follow on educational opportunities and military service › Loveless Academic Magnet Program (High School): stringent college preparatory curriculum prepares students who are interested in pursuing careers in medicine, applied science, government and similar areas of distinction for admission to the most prestigious college programs in the nation › Montgomery Regional Workforce Training Center: provide entry-level training, existing employee upgrade training, two-year technical college level training, and K-12 career training to adequately supply businesses with a trained workforce for the Montgomery region OPTIMAL LEASE STRUCTURE - Attractive 20-year sale-leaseback - Four (4), 5-year renewal options - 10% rent escalations every 5 years throughout entire lease - Triple net (NNN) lease with NO landlord responsibilities - Tax advantages with accelerated depreciation due to fee simple ownership LARGE FRANCHISEE & DOMINANT BRAND - Largest Circle K franchisee - Exclusive Circle K franchisee in Metro Atlanta - Expanding 93+ unit operator across 4 states (AL, AR, GA, LA) › Currently operate 50+ Circle Ks in Georgia - 26+ year operating history - Circle K is an international brand with 15,000+ locations in 20 countries (corporate) MONTGOMERY, AL ADVANTAGE - Home to Alabama’s state capital - Gross Metro Product of $18.6 B (2019) - Low cost of living at 8% below national average (per Forbes) - Major industries include education and defense - Home to Maxwell Air Force Base › Educational and technological center of the US Air Force › Average fiscal economic impact of ±$1 annually › Mission critical military installation as home to Air University › 17,000+ military, civil service and contracted personnel & 34,000 students - Other Top Employers › Baptist Health: +4,300 employees › Hyundai Motor Manufacturing Alabama, LLC: +3,500 employees › Assembly plant for Sonata and Elantra sedans and Santa Fe SUV › HMMA and its suppliers have an annual economic impact of $4.82 B to the State of AL’s economy › ALFA Insurance Companies: +2,500 employees

Broker of Record

  • Eddie Greenhalgh

    First Vice President Investments

    (205) 510-9200

    License(s): AL: 0000882980

    Alabama

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