NEW 15-YEAR CORPORATE NNN LEASE WITH INCREASES • The subject property has a new 15-year lease guaranteed by Bridgestone Retail Operations, LLC (Corporate). • The lease is absolute NNN and the tenant is responsible for all taxes, insurance, CAM, roof and structure. • There are attractive 5% rental increases every 5 years during the initial lease and each of the five, 5-year option periods.
“A” RATED INVESTMENT GRADE TENANT • The lease is guaranteed by Bridgestone, parent company of Firestone, which is the world’s largest manufacturer of tire and rubber products. • Bridgestone/Firestone has an investment grade credit rating of “A” by S&P, giving it the highestcredit rating in the auto-service sector. • Founded in 1900, Firestone is a wholly-owned subsidiary of the Bridgestone Retail Operations, LLC, which has four retail brands and over 2,200 locations nationwide. • In 2019, Bridgestone (NYSE: BRDCY) had revenue in excess of $32 billion.
BRAND NEW BUILD TO SUIT • Brand new Build to Suit Firestone located in Lancaster, OH. • This store is 6,116 SF, with 8 service bays, currently under construction and scheduled for delivery July 2020.
COLUMBUS MSA • The subject property is located Lancaster (Fairfield County) approximately 28 miles Southeast of Columbus and is part of the Columbus, OH MSA. • Columbus is the state capital and largest city in Ohio and has a population of 892,533. • Home to The Ohio State University with enrollment of over 68,000 students. • Columbus is home to 5 Fortune 500 companies (American Electric Power, Cardinal Health, L Brands, Nationwide, and Big Lots).
PRIMARY RETAIL CORRIDOR LOCATION • The subject property is well-located on N Memorial Drive (27,414 VPD) and is the primary retail artery in Lancaster. • Surrounding national retailers include: Walmart, Target, Kroger, Lowe’s, Menards, Hobby Lobby, Giant, and adjacent to the River Valley Mall. • Additional nearby traffic generators include the Fairfield Medical Center and the Fairfield County Airport.