Valvoline Ground Lease

Property Details

Asking Price:
$2,000,000
Tenancy:
Single Tenant
Property Type:
Single Tenant
Lease Type:
Ground
Lease Term:
15 years
Square Footage:
1,352 sqft
Year Built:
2021
NOI:
$90,000
Price/Sq Foot:
$1,479

Valvoline Ground Lease

War Room

Confidentiality Agreement

Property Overview

  • ​New Fifteen (15) Year Absolute NNN Ground Lease with Zero Landlord Responsibilities
  • ​Attractive Ten (10%) Percent Increases Every Five (5) Year Throughout the Primary Terms and Options.
  • ​Income Tax Free State
  • ​Traffic Counts Exceed 121,000 VPD at the Intersection
  • ​More Than 106,000 People Living Within a Three (3) Mile Radius with Avg. HHI’s Above $114,000
  • ​Over 1.5M SF of Retail Located in the Immediate Trade Area
  • ​HEB Supermarket Company Has Purchased a Parcel of Land and Intends to Build a New Store Directly Across Rio Grande from the Site
  • ​Publicly Traded Company (VVV) with Market Cap of Over $5.4 Billion
Valvoline has signed a long term ground lease on approximately ±0.93 acres of land located at the southwest quadrant of SH 121 & Glade Road in Euless, TX.​ The building is 100% leased to Valvoline Instant Oil Change and is an out-parcel to Glade Parks Town Center.​ Glade Parks is a 194-acre mixed-use development consisting of over 400 luxury urban-loft apartments, 125+ luxury single-family homes, and will feature over 800,000 square feet of retail at full completion with a mindful mix of national big-box retailers, restaurants, entertainment, and lifestyle tenants.​ Glade Parks is located on SH 121 from Glade Road to Cheek-Sparger Road in the city of Euless, Texas, less than 1.5 miles from Dallas-Fort Worth International Airport and boasts nearly one-mile of frontage along SH 121.​ SH 121 carries over 100,000 vehicles per day and has full access to the intersections at Glade Road (over 27,000 vehicles per day) and Cheek Sparger Road (over 20,000 vehicles per day) via the SH 121 access road and Rio Grande Blvd.​

Euless, Texas is strategically located in the center of the Dallas-Fort Worth Metroplex.​ Demographics in a three-mile and five-mile radius of the site show a dense population of over 106,000 and 203,000 people respectively, both with average household incomes in excess of $112,000 per year.​ DFW Airport covers 27 square miles and is the fourth busiest airport in the world with over 900 flights per day and has approximately 60,000 on-site employees which account for a good portion of more than 109,000 daytime employees within five miles of the development.​ The DFW Metroplex is the largest metropolitan area in Texas, the largest in the South, and fourth largest in the U.​S.​ with a population of 7,694,138, according to a May 2021 FRED Economic Data estimate.​ Overall, DFW is the 11th largest metro economy in the world and has a gross metro product exceeding $511 billion.​

With over 1.5 million square feet of retail located in the immediate trade area, the intersections of both Cheek-Sparger Road and Glade Road at SH 121 have become a super-regional retail and entertainment destination.​ Major retailers in the trade area include Super Target, Walmart Super Center, HomeGoods, Michael’s, DICK’s Sporting Goods, Belk, Cinépolis Theaters, Dave and Busters, LA Fitness, Lowe’s, Ross, Marshalls, Bed Bath & Beyond, PetSmart, and Party City to name a few.​ HEB Supermarket Company has also purchased a parcel of land and intends to build a store behind the subject property.​ Extremely strong average household incomes with strong residential and daytime populations combined with a critical mass of retail with an all-star lineup of national and regional players ensure the long-term success and viability of this project.​