We are happy to announce a successful closing of a Single-Tenant AutoZone located in urban Philadelphia market! This one was a little unusual, not because it took place in the middle of the pandemic, but because the store was looted during the DD period!!

The property was on a short-term lease with AutoZone corporate which presented a unique challenge, however, our team leveraged relationships with clients who have successful investments in the market and quickly learned that the store was a high performer for the tenant. The looting proved to be a blessing in disguise, as tenant repaired and restocked the store immediately, giving us evidence that the store was truly a high performer.

This high quality asset with a corporate tenant guarantee, a long-term lease at only $15/SF and a strong performing store, has all ingredients needed to be an extremely successful investment!  AGM Net Lease provided acquisition services and representation for the purchaser, while Harvey Schmidt Jr of Marcus & Millichap office in Philadelphia, represented the seller. For more information about this transaction and our services, contact Bosko Stankovic or Niko Micin.