Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in Grease Monkey located at 2236 Mercantile Drive, Eau Claire, Wisconsin. The single tenant net lease asset is 100% occupied by Grease Monkey, who maintains over 10 years of remaining lease term plus three renewal options, each with a 10% rent increase. The 5,817 SF building was constructed in 1987 and sits on 0.72 acres of land.
Grease Monkey, a FullSpeed Automotive brand, is currently implementing an aggressive expansion strategy aimed at doubling its footprint within the next three years. With more than 500 locations across North America and operations in six countries internationally, the company has demonstrated resilience through over five decades of business cycles and market changes. Grease Monkey remains focused on expanding its geographical presence and growing its customer base.
The property enjoys a prime location within an established retail corridor featuring popular destinations including Festival Foods, Menards, Dunkin Donuts, and Kwik Trip. This strategic positioning capitalizes on impressive daily traffic counts of 22,470 vehicles along US Highway 12 through Eau Claire. The three-mile radius demographic profile is compelling, with population growth projecting at more than twice the national average and household incomes averaging over $85,000, indicating both strong customer density and substantial spending power. Additionally, the site's convenient location just 10 minutes from downtown Eau Claire further enhances its appeal.
With the return of 100% bonus depreciation, this asset offers an even more compelling investment opportunity. Investors can fully depreciate the building improvements in year one, creating a substantial upfront tax shield. This accelerates cost recovery, boosts after-tax cash flow, and enhances overall returns, adding meaningful value beyond the property's strong real estate fundamentals.
Please refer to the OM for more information on this investment opportunity.