Description:
CORPORATE GUARANTY to Advance Auto Parts Inc(NYSE: AAP), one of the nation’s largest and fastest growing automotive suppliers with 4,700+ locations and over 68,000 employees. Advance Auto reported record numbers in 2021 including:
- Full Year Net Sales Increases 8.80% to $11.0 Billion
- Comparable same store sales increased 10.70%
- Operating Cash Flow increased 14.7%to $1.10 Billion.
- Returned over $1.0 Billion in cash to shareholders
EXCELLENT RETAIL LOCATION
- Subject Property is an outlot to Sattler’s Square –a well performing power center with tenants such as Big Lots, Dunham’s, Tractor Supply Co, Maurices, Shoe Sensation, etc.
- Other surrounding retailers on Perry Ave include Walmart, Meijer, Menards, Lowe’s, Aldi, Marshalls, JOANN, Planet Fitness, etc.
- US 131 –Big Rapids’ retail corridor is directly off of US 131 (x VPD), one of the primary north south highways in Michigan.
FERRIS STATE UNIVERSITY:
- Subject property is one mile from Ferris State University –a top ten university in Michigan with over 14,560 students.
NN LEASE –LANDLORD ONLY RESPONSIBLE FOR ROOF & STRUCTURE