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ALDI & Valvoline Ground Lease, La Porte, TX

ALDI & Valvoline Ground Lease

TX, USA

Price $5,117,000
Cap Rate
NOI
Lease Term Various
Lease Type Absolute NNN Ground Leases
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built Various
Building Size Various
Lot Size 2.769 Acres (120,618 SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Scott Crowle
Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

TWO LONG-TERM ABSOLUTE NNN CORPORATE GROUND LEASES
» Scheduled rental increases, providing a hedge against inflation
» Absolute NNN leases require no landlord management, ideal for an out of-area investor
» ALDI is on track to become the third-largest grocery retailer by store count by 2023 and was named 2018 “Retailer of the Year” by Supermarket News
» Corporate lease to Valvoline (NYSE: “VVV” – S&P: “BB” – $2.3B in revenue – 1,350+ locations)

HIGH-TRAFFIC LOCATION IN DENSELY POPULATED, GROWING, AND AFFLUENT AREA
» Hard-corner location at the signalized four-way intersection of Spencer Highway, Canada Street, and East Boulevard (combined 37,324 AADT)
» Central location at the confluence of highly trafficked Texas thoroughfares, including Sam Houston Tollway and State Routes 225 and 146
» 135,934 residents live within a five-mile radius of the property, providing a large customer base for the site
» High average annual household income of $96,353 within a three-mile radius of the site
» Projected 11 percent average annual household income increase within a one-mile radius of the property in the next five years, poising ALDI, Valvoline, and La Porte for significant concurrent growth

CENTRAL LOCATION NEAR MULTIPLE TOURIST ATTRACTIONS, RETAILERS, AND COMMUNITY HUBS
» Adjacent to the Bayport Industrial District, one of the largest private industrial complexes in the U.S. and the leading center for chemical processing in the Houston area
» The Bayport Industrial District features a diverse manufacturing community of over 15,000 people working for more than 70 companies and has an economic impact of approximately $6 billion per year
» Surrounded by a strong mix of local and national retailers, including Walmart Supercenter, McDonald’s, H-E-B, Chick-fil-A, Whataburger, Taco Bell, Chili’s, and many more
» One mile from San Jacinto College (28,549 students)
» Minutes from NASA’s Johnson Space Center (JSC), which manages more than $4 billion annually in aerospace contracts and has a workforce of approximately 3,200 civil servants and over 11,000 contractors
» Space Center Houston is the tourist arm of the Johnson Space Center and one of the most popular tourist attractions in Texas, with over one million visitors per year


Property Description

SOLD

The property has a hard-corner location at the signalized four-way intersection of Spencer Highway, Canada Street, and East Boulevard, which features a combined 37,324 AADT. The site maintains a central location at the confluence of highly trafficked Texas thoroughfares, including Sam Houston Tollway and State Routes 225 and 146. The property is located in an extremely affluent area, with an average annual household income of $96,353 within three miles of the site. The property benefits from its location in a populous area, with 135,934 residents living within a five-mile radius of the property. With a projected 11 percent average annual household income increase within a one-mile radius of the property in the next five years, ALDI, Valvoline, and La Porte are poised for significant concurrent growth.

The property benefits from its central location near multiple large employers, retailers, and community hubs. Visibility is increased by the property’s location adjacent to the Bayport Industrial District, one of the largest private industrial complexes in the U.S. and the leading center for chemical processing in the Houston area. The Bayport Industrial District features a diverse manufacturing community of over 15,000 people working for more than 70 companies and has an economic impact of approximately $6 billion per year. The site is surrounded by a strong mix of local and national retailers, including Walmart Supercenter, McDonald’s, H-E-B, Chick-fil-A, Whataburger, Taco Bell, Chili’s, and many more. The location is also one mile from San Jacinto College, which has 28,549 students. The property serves as a common gateway to NASA’s Johnson Space Center (JSC), which manages more than $4 billion annually in aerospace contracts and has a workforce of approximately 3,200 civil servants and over 11,000 contractors. Space Center Houston is the tourist arm of the Johnson Space Center and one of the most popular tourist attractions in Texas, with over one million visitors per year.

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