This offering presents a rare opportunity to acquire a property leased to Caliber Collision, the nation’s largest auto body repair company, under a long-term triple net lease extending through 2031. The lease is backed by a corporate guaranty from Wans Newco 3, Inc., the parent entity of Caliber, ensuring strong credit reliability. Investors benefit from built-in 2% annual rental increases, providing consistent income growth and a hedge against inflation, along with two 5-year renewal options featuring fair market rent adjustments.
The property is strategically positioned along Merle Hay Road, a well-known “Dealership Row” surrounded by high-traffic auto dealerships including Kia, Ford, and Nissan. This dominant co-tenancy aligns with Caliber’s business model, creating strong captive demand for collision repair services. Market fundamentals further support the asset’s performance, with more than 187,000 residents within a 5-mile radius and average household incomes exceeding $102,000.
Located in Iowa’s largest metropolitan statistical area, the Des Moines metro boasts a population of approximately 707,000 and continues to experience robust growth of 4.5%. The site benefits from Caliber’s proven operational history, having been successfully integrated into the network following its 2021 acquisition under a sale-leaseback structure. This combination of credit-backed tenancy, predictable rent escalations, and a thriving location makes this property an attractive investment with long-term stability and upside potential.