RENEWED 10-YEAR CORPORATE NNN LEASE WITH INCREASES • Newly executed 10-year corporate NNN lease with Bridgestone Retail Operations, LLC. • The lease is absolute NNN and the tenant is responsible for all taxes, insurance, CAM, roof & structure. • There are attractive 10% rental increases every 5 years during the initial lease and each of the three, 5-year option periods. • Firestone has been operating at this location for 50 years. This Firestone occupies a 10,256 square foot building with 12 service bays.
“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.
OUTPARCEL TO FLORENCE MALL • This Firestone sits as an outparcel to the 329,903 SF Florence Mall anchored by TJ Maxx, Stein Mart, and Shoe Carnival. • There is 2M SF of national retail within a 1-mile radius which includes Walmart, Lowe’s, Sam’s Club, The Home Depot, Food Lion, ALDI and more.
HIGH TRAFFIC LOCATION NEAR I-90 & I-20 • Well-located at a signalized pin-corner of a 5 point intersection of Hoffmeyer Rd. (12,800 VPD), Palmetto St. (18,400 VPD), and State Hwy S-29 (11,400 VPD). • This Firestone sits just over two miles away from the intersection of I-95 (57,100 VPD) and I-20 (28,100 VPD). • Interstate 95 is a major East Coast artery and runs from Miami, FL through Maine and into Canada. Interstate 20 is a major East-West interstate running from Kent, TX to Florence, SC.
FLORENCE • Florence is the 10th largest city in South Carolina and is the county seat of Florence County. • The city is well known for being the location where Interstate 95 and Interstate 20 intersect, as well as Interstate 20’s eastern terminus. • Florence retains its status as a major hub in the coastal plain region of SC both for industry and infrastructure while establishing itself as a regional center for business, medicine, culture and finance. • Companies with regional operations and headquarters in Florence include: BB&T, Monster.com, CSX Railway, Wells Fargo, Bank of America, and more.