Cushman & Wakefield is pleased to present the opportunity to acquire a net leased investment tenanted by Kwik Kar, a leading automotive maintenance and repair concept operating throughout Texas. The property is secured by an absolute NNN lease with MOP GM Holding, LLC serving as the corporate guarantor, providing investors with a passive ownership structure and stable cash flow. The asset features approximately 16 years of remaining lease term and benefits from annual rental increases equal to the greater of 2% or CPI (capped at 6%), providing a built-in hedge against inflation.
Founded in 1984, Kwik Kar has established itself as a trusted provider of automotive maintenance and repair services throughout Texas. The tenant is supported by FullSpeed Automotive, one of the nation's largest automotive aftermarket service platforms, operating approximately 900 company-owned and franchised locations and generating more than $300 million in annual revenue. FullSpeed Automotive is owned by MidOcean Partners, a private equity firm with approximately $12 billion of assets under management, providing strong institutional backing and operational support. In addition, Kwik Kar was ranked#2 in overall customer satisfaction for full-service maintenance and repair in 2022 by J.D. Power, further highlighting the strength of the brand and its position within the automotive services sector.
The property is located at 134 E Ovilla Road in Red Oak, Texas, an affluent and rapidly growing suburb within the Dallas-Fort Worth Metroplex. The site is positioned as an outparcel to Walmart Supercenter and shares access with national retailers including AutoZone, Dollar Tree, and Anytime Fitness. The surrounding retail corridor features numerous additional national brands such as Brookshire's, Walgreens, CVS, Ace Hardware, Panda Express, Chick-fil-A, Burger King, McDonald's, and Dairy Queen. The property also benefits from frontage along Ovilla Road and immediate access to Interstate 35E, which carries approximately 95,189 vehicles per day, while the surrounding trade area includes more than 94,000 residents within five miles with average household incomes exceeding $113,000. Red Oak has experienced significant growth in recent years, with population increasing approximately 43% since 2020.
This offering represents an opportunity to acquire a long-term net leased investment backed by a recession-resistant automotive services tenant, strong corporate guaranty, contractual rent growth, and exceptional real estate fundamentals within the high-growth Dallas-Fort Worth market.