The Boulder Group has completed the sale of a single tenant Advance Auto Parts located at 164 Temple Ave in Newnan, GA for $1,570,000. The Boulder Group’s Brandon Wright and Zach Wright represented the seller in the transaction. The seller was a private Colorado-based investor and the purchaser was a Georgia-based family office in a 1031 exchange. The all-cash transaction quickly closed in only 24 days.
The Advance Auto Parts property is located at the hard corner of a signalized intersection. The property is in an affluent area with average annual household income of $97,000 within a mile. The Advance Auto Parts property out-positions nearby competitors AutoZone and O’Reilly Auto Parts. Newnan is located within the Atlanta MSA and approximately 35 miles southwest of Downtown Atlanta.
Advance Auto Parts has a long operating history at this location and recently extended their lease early demonstrating commitment to this location. Advance Auto Parts is a publicly traded company (NYSE: AAP) with a $2B market capitalization.
“The average age of a vehicle in the U.S. is currently a record-high 12.6 years old. The aging fleet of vehicles will continue to create strong demand for auto parts moving forward. As a result, many net lease investors continue to be bullish on the auto parts space and are acquiring well-located auto parts properties,” stated Zach Wright, Vice President.
“Net lease properties with low overall rents and price points that are located in business-friendly states and growth markets are at the forefront of investor demand,” said Brandon Wright, Associate.
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high-net-worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $9 billion of single tenant net lease real estate transactions. From 2013-2024, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago and has an office in Denver.
For additional information, please visit www.BoulderGroup.com
Media Contact
Company Name: The Boulder Group
Contact Person: Zach Wright
Email: Send Email
Phone: 720-604-2220
Address:1805 S Bellaire Street, Suite 355
City: Denver
State: Colorado
Country: United States
Website: https://www.bouldergroup.com/NNN-Properties-For-Sale.html