O’REILLY AUTO PARTS & SHERWIN-WILLIAMS PAINT NWC of …



O'REILLY AUTO PARTS & SHERWIN-WILLIAMS PAINT

NWC of N. Western & Lemon Grove Avenues, Los Angeles, CA

DESCRIPTION:

100% Occupied and leased commercial/retail building with O'Reilly Auto Parts and Sherwin-Williams Paint Store. Building was completely remodeled in 2001 for a Kragen Auto Parts (converted to O'Reilly's after company was purchased in 2008) and Sherwin Williams Paint- Both still occupy the property and are paying rent on net leases with options. The building is 12,220 S.F. total consisting of two spaces 7,270 S.F. for the O'Reilly's Auto Parts and 4,867 S.F. for Sherwin-Williams. Tenants are operated by their parent companies, O'Reilly's lease is signed by CSK Auto, Inc. is a wholly owned subsidiary of O'Reilly's Auto Parts and Sherwin-Williams Paint Co. for the Sherwin-Williams Paint Store. The property is on the lighted corner of Western Avenue and Lemon Grove (approximately 50,000 VPD); located in a dynamic Los Angeles neighborhood known as East Hollywood. The seasoned and densely populated neighborhood (over 1 Million people within 5 Mile Radius) is consistently reinventing itself with new developments and refurbishment of the many commercial and retail businesses in area. The property is located just off of Highway 101 and is situated between both Santa Monica and Melrose Avenues. Property is within view of the famous "HOLLYWOOD" movie sign.

ADDRESS:

881 and 883 N. Western Avenue, Los Angeles, CA 90029.

SIZE:

Approx. 12,220 S.F. Building (S.F. includes small fire corridor) on 21,000+/- S.F. Land Parcel.

PRICE:

$4,400,000 ? 6.51% Cap

RENT:

O'Reilly Auto Parts = $175,616.04

Sherwin-Williams Paint = $111,000

Total Annual Rent

= $286,616.04

Yrs. 10-15 Yrs. 10-15 * Based on Rent beginning March 2012 Yrs. 10-15 * Rent increases to $289,893.04 in March 2013

#1 TENANT:

Originally Kragen Auto Parts now dba O'Reilly's Auto Parts (occupies 7,270 S.F.), (NYSE- "ORLY"); is one of the largest specialty retailers of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States, serving both professional service providers and do-it-yourself customers. Founded in 1957 by the O'Reilly family, the Company operated 3,707 stores in 39 states as of September 30, 2011

#1 LEASE: #2 TENANT:

#2 LEASE :

15-year NN lease commenced Jan. 30, 2001 Expires February 28, 2016 with four (5) year options to renew. Lease has Landlord roof and structure. Lease rate bumps every 5 years by 12% increase includes options to renew.

The Sherwin-Williams Company (occupies 4,867 S.F.) of Columbus, Ohio (NYSE - "SHW") is an international retailer and manufacturer of paint and covering products operating over 2,000 paint and wall covering stores and 144 branches in 48 states, Canada, and Puerto Rico. The Sherwin-Williams Co. has been in business since 1866 and enjoyed their 125th anniversary in 1991. The Sherwin-Williams Co. has an S&P rating of "A" and a current net worth of over a Billion dollars.

10-year NN lease commenced Feb. 23, 2001 with two (5) year options to renew. Property is in the first option term of 5 years which expires February 29, 2016. Rental rate increases to $114,277 in March 2013. Second option rent increases to $127,953.48 for five years. Landlord is responsible for roof and building structure only.

For More Information: Paul J. Bonanno NET LEASED REAL PROPERTIES

Direct (760) 452-2402 / E-Mail to: Paul@

O'REILLY AUTO PARTS & SHERWIN-WILLIAMS PAINT

NWC of N. Western & Lemon Grove Avenues, Los Angeles, CA

SITE PLAN

O'Reilly's Auto Parts 7,270 S.F.

MAPS & AERIAL FOR O'REILLY AUTO PARTS & SHERWIN-WILLIAMS PAINT AERIAL MAP

O'REILLY AUTO PARTS & SHERWIN-WILLIAMS PAINT

NWC of N. Western & Lemon Grove Avenues, East Hollywood, CA Heavy Traffic and Dense Demographics.

Building sits on lighted Corner.

*Re-Branded from a Kragen Auto to an O'Reilly's in 2009

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