Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

Enter the "Deal room" for exclusive documents related to this property.

The Deal Room features confidential documents related to this property. To access the Deal Room, you will need to be logged in. If you don't have an account, please create one. More questions? Visit our FAQ.
I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 2020
Building Area
Land Area ()
Number of units 1

Property Description

JLL is pleased to exclusively offer the opportunity to acquire a single tenant property corporately leased to Valvoline in Roanoke, VA. The tenant, who built the building in 2020, has 14.5 years of term remaining on its original fifteen (15) year NNN ground lease. The corporately guaranteed ground lease calls for ten percent (10%) increases every five years throughout the primary term, and those increases rise to twelve percent (12%) in each of the three, five-year options. Valvoline is an essential retailer who has adjusted accordingly by incorporating ‘stay in your car’ oil changes to safely accommodate their consumers’ needs. 


The newly constructed Valvoline at Hunting Hills is located in the single most strategic and favorable position for an automotive service provider in the growing and expansive trade area of Southern Roanoke. The property has prime visibility from Route 220, which is home to over 32,000 vehicles per day. Valvoline is situated along the main entrance of Hunting Hills, a well-performing, 167,875 square foot Kohl’s and PetSmart anchored shopping center. As an outparcel to the shopping center, it provides cross-shopping opportunities to over 1.37 million customers annually, who predominately travel to Hunting Hills by vehicle. The property is also shadow anchored by a 140,000 square foot Lowe’s and 130,000 square foot Home Depot which generate significant traffic to the Valvoline’s immediate submarket.


Valvoline (NYSE: VVV) is a leading worldwide marketer and supplier of premium branded lubricants and automotive services with sales in more than and 140 countries. Established in 1866, Valvoline ranks as the No. 3 passenger car motor oil brand in the DIY market by volume. It also operates and franchises the No. 2 quick-lube chain by number of stores in the United States with more than 1,300 Valvoline Instant Oil Change centers. In 2019, Valvoline reported $2.4 billion in sales, a 5% increase from the previous year and same store sales grew by 10.1%.

Investment Highlights

  • The newly built Valvoline is on a 15-year NNN ground lease, with ten percent (10%) rental increases every five (5) years throughout the primary term and twelve percent (12%) increases each option period
  • Valvoline (NYSE: VVV) is an essential retailer and leading worldwide marketer and supplier of premium branded lubricants and automotive services. In 2019 Valvoline reported $2.4 billion in sales, a 5% increase from the previous year and same store sales grew by 10.1%
  • Valvoline’s roadside visibility allows it to capture much of the roughly 32,000 VPD along Franklin Road SW (Route 220), a major thoroughfare in Roanoke, VA
  • The number of households within a 1-mile radius of the Property has grown over 10% since 2010, with the affluent population earning an average income of $112,867 annually
  • Valvoline is in close proximity with nationally recognized retailers such as Lowe’s, The Home Depot, Belk, T.J. Maxx, Big Lots, Chick-fil-A, Outback Steakhouse, Starbucks, IHOP, Texas Roadhouse and Bojangles, helping drive more consumers to the area
  • Valvoline, the number 2 chain by number of stores in the United States, benefits from being an outparcel to the Hunting Hills, which is visited over an estimated 1,370,000 times annually and features other well-known retailers such as Kohl’s, Dollar Tree, Taco Bell and PetSmart (placer ai)
Last Updated Date: 17 Nov 2020
Jordan Lex
Jordan Lex
Senior Director, Capital Markets
License details
DC-SP98373803 MD-647016 VA-0225189318
Marc Mandel
Marc Mandel
Managing Director, Capital Markets
License details
PA - AB068236 DE - RS-0019936 NJ - 0894218

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

Last Updated Date: 17 Nov 2020

Do you have any questions?  Visit our FAQ page

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.