BRAND NEW BUILD TO SUIT FIRESTONE • Brand new Build to Suit Firestone located in Forney (Dallas MSA), TX. • This store is 6,116 SF with 8 service bays and is currently under construction and scheduled for delivery October 2020.
DALLAS MSA • Forney is a an affluent fast growing suburb 20 miles East of Dallas and part of the Dallas-Fort Worth MSA. • Dallas is the 3rd largest city in the state of Texas and the 9th largest in the U.S. with a population of over 1,318,000. • Dallas is home to the 3rd-largest concentration of Fortune 500 campiness in the country and is the largest economic center of the DFW Metroplex • Dallas is also ranked 6th in the US and 14th in world rankings of GDP by the Organization for Economic Co-operation and Development. • Dallas developed a strong industrial and financial sector, and a major inland port, due largely to the presence of Dallas/ Fort Worth International Airport, one of the largest and busiest airports in the world. • Dallas has more shopping centers per capita than any other city in the U.S. and is also is home to two super regional center malls, the Dallas Galleria and NorthPark Center, which is the 2nd largest mall in Texas.
PRIMARY RETAIL CORRIDOR • The subject property is located at the intersection of East US Hwy 80 (65,039 VPD) and Farm to Market 548 (21,022 VPD) and less than 3.5miles North of I-20 (32,224 VPD). • This Firestone is well located across from Walmart, Lowe’s and is surrounded by 1.4Million SF of national retailers including Kroger, CVS, Panera Bread, Starbucks, Chick-Fil-A, and more. • The 5-mile population is 46,962 with 39% growth and the average household income is $104,266.
TAX FREE STATE • Texas is one of seven states which has no income tax. • Texas also has no estate tax.
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 autoservice 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.