Firestone

Firestone

17577 Carey Road
Westfield (Indianapolis MSA) , IN

Price: $3,347,000
Cap: 5.00%
NOI: $167,324
Building Size: 6,616 SF
Lot Size: 0.98 AC

Investment Highlights

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 highest credit 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 2018, Bridgestone (NYSE: BRDCY) had revenue in excess of $33.1 billion and ranked #365 on the Fortune 500 list.

BRAND NEW BUILD-TO-SUIT
• Brand new 6,116 SF build-to-suit Firestone Complete Auto Care
• This store has 8 bays and is currently under construction and scheduled for delivery in March 2020.

OUTPARCEL TO KROGER ANCHORED SHOPPING CENTER
• The subject property is well-located at the intersection of IN-32 (20,458 VPD) and Carey Road (4,084 VPD) and is the primary retail artery in Westfield, IN.
• This Firestone is well located and sits as an outparcel to a Kroger Anchored Shopping Center.
• Surrounding national retailers include: Goodwill, Walgreens, Wendy’s, CVS, Chase Bank, Anytime Fitness, AutoZone and more.
• The 5-mile population is 106,066 with 19.62% growth and the average household income is $131,641.

AFFLUENT INDIANAPOLIS SUBURB
• Westfield (Hamilton County) is an affluent suburb approximately 20 miles North of Indianapolis.
• The 5-mile population is 106,066 with 19.62% growth and the average household income is $131,641.
• Indianapolis is the capital and most populous city in the state of IN and the County Seat of Marion County.
• Indianapolis is the third most populous city in the American Midwest and the 16th most populous city in the U.S.
• Indianapolis anchors the 25th largest economic region in the U.S., based primarily on the sectors of finance and insurance, manufacturing, professional and business services, education and healthcare, government, and wholesale trade .
• The city also has many universities such as Indiana University – Purdue University Indianapolis (IUPUI), which enrolls to more than 30,000 students

Don McMinn
OFFERING MEMORANDUM

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