™ OFFERING MEMORANDUM Jiffy Lube 36167 Date Palm Dr, Cathedral City, cA 92234 exclusively listed by MITCHELL GLASSON Wesley connolly, MBA Associate Senior Associate
[email protected] [email protected] DIR (949) 432-4502 DIR (949) 432-4512 MOB (707) 364-5650 MOB (707) 477-7185 LIC # 012016029 (CA) LIC # 01962332 (CA) investment highlights DEAL HIGHLIGHTS • Absolute NNN SoCal asset offered at a rare $400/SF • Unprecedented growth and development - Coachella Valley’s population is expected to increase 99.4% by 2035 • Exceptional lease guaranty with largest national Jiffy Lube franchisee operator (523 Units) – further details below • Subject property has 4 service bays and 2nd floor administrative office • Visibility to 20,000 + vehicles per day CATHEDRAL CITY & COACHELLA VALLEY • Economic Growth & Development - Cathedral City recently voted (March 2018) to pull back regulations and promote infrastructure, development and newfound revenue from the cannabis sector • Projects include a new downtown casino, national retail, hotels, live playhouse theater and performance arts centre; Date Palm Drive is currently being widened to three (3) car lanes + bike lanes (N & S) to account for increased traffic count attributed to new development. • 5.43% projected population growth rate 2018 - 2023 • Population: 1-Mile: 10,000 | 3-Mile: 54,859 | 5-Mile: 110,766 TOP-TIER TENANT (LARGEST FRANCHISEE OPERATOR) • In Q1 2018, leading middle-market private equity investment firm Wynnchurch Capital, LLC completed the acquisition of Heartland Automotive Services in partnership with Mid-Atlantic Lubes, Inc. and was renamed Team Car Care, LLC • Heartland Automotive Services, Inc. d/b/a Team Car Care, LLC is Jiffy Lube’s largest franchisee with ± 523 Locations across 26 states • Wynnchurch Co-Managing Partner, John Hatherly, “Heartland is a tremendous addition to our portfolio of service businesses.