Ethan Conrad Properties is pleased to present the opportunity to acquire a 100% fee-simple interest in 1661 Union Avenue — a 5,820 SF freestanding automotive service building on a 0.27-acre hard-corner parcel in Bakersfield, California, net-leased to Auto Glass Now.
The tenant, AGN Glass, LLC (dba Auto Glass Now), is a subsidiary of Driven Brands Holdings Inc. (NASDAQ: DRVN) — an automotive-services platform with more than 4,300 locations across North America. Auto Glass Now is the second-largest auto glass operator in the United States.
The property fronts Union Avenue (State Route 204), one of Bakersfield's primary north-south arterials, carrying approximately 30,000 cars per day, immediately north of the Truxtun Avenue / SR-178 interchange and roughly one mile east of downtown Bakersfield and Highway 99.
The lease runs through September 30, 2029 with two (2) five-year renewal options, and carries a 10% rent increase on October 1, 2027 that lifts annual rent to $70,428.