DRIVER’S EDGE BY GB AUTO · EXECUTIVE SUMMARY 01 PROPERTY DESCRIPTION 02 FINANCIAL ANALYSIS 03 AREA OVERVIEW 04 2050 GLADE ROAD | GRAPEVINE, TX 2 . EXECUTIVE SUMMARY01. THE OFFERING

OFFERING MEMORANDUM

DRIVER’S EDGE BY GB AUTO2050 GLADE ROAD | GRAPEVINE, TX

AFFILIATED BUSINESS DISCLOSURE

Newmark Knight Frank (the “Agent”) has been engaged as the exclusive sales representative for the sale of 2050 Glade Road, Grapevine, TX (the ”Property”) by ‘Ownership’ (the “Seller”).

This Memorandum does not constitute a representation that the business or affairs of the Property or Seller since the date of preparation (8/3/2020) of this Memorandum have remained the same. Analysis and verification of the information contained in this Memorandum are solely the responsibility of the prospective purchaser.

Additional information and an opportunity to inspect the Property will be made available upon written request of interested and qualified prospective purchasers. Seller and Agent each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the Property, and/or terminate discussions with any party at any time with or without notice. Seller reserves the right to change the timing and procedures for the Offering process at any time in Seller’s sole discretion. Seller shall have no legal commitment or obligations to any party reviewing this Memorandum, or making an offer to purchase the Property, unless and until such offer is approved by Seller, and a written agreement for the purchase of the Property has been fully executed and delivered by Seller and the Purchaser thereunder.

This Memorandum and the contents, except such information which is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting this Memorandum, you agree that you will hold and treat it in the strictest confidence, that you will not forward, photocopy or duplicate it, that you will not disclose this Memorandum or any of the contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make a proposal and from whom you have obtained an agreement of confidentiality) without the prior written authorization of Seller or Agent, and that you will not use this Memorandum or any of the contents in any fashion or manner detrimental to the interest of Seller or Agent.

TABLE OF CONTENTS

EXECUTIVESUMMARY

01PROPERTY

DESCRIPTION

02FINANCIALANALYSIS

03AREA

OVERVIEW

04

2050 GLADE ROAD | GRAPEVINE, TX 2

EXECUTIVE SUMMARY

01

THE OFFERING

Newmark Knight Frank (NKF) Capital Markets,

as exclusive advisor, is pleased to present the

opportunity to acquire Driver’s Edge by GB Auto

at 2050 Glade Road (the Property), a 4,576-square-

foot retail project in Grapevine, Texas.

GB Auto Service Driver’s Edge, LLC consists of

a single tenant on a NNN lease. Built in 2001, the

property is approximately 4,576 square feet siting

on 0.96 acres, with frontage on Glade Road. In

addition, the asset benefits from visitors to the

Vineyard Marketplace retail center the repair shop

is located within. GB Auto offers an investor the rare

opportunity to acquire a well-maintained, stable

asset in a rapidly growing part of Dallas, Texas.


OFFERING PRICE $3,325,000

CAP RATE 6.00%

NOI $199,514CORPORATE GUARANTEE GB Auto Service, Inc

PROPERTY SUMMARY OFFERING SUMMARY

GB AUTO SERVICE DRIVER’S EDGE, LLC2050 Glade RoadGrapevine, TX 76051

4,576 SF Total Building Area

2001 Year Built

0.96 ACLot Size

7064608Parcel Number

CommercialZoning

NNNLease Type

14+ YearsLease Term Remaining

10% per 5 yrsRent Increases


18,811 cars/day18,811 cars/day 155,289 cars/day

155,289 cars/day

3,530 cars/day

3,530 cars/day

Glade RoadGlade Road

William D Tate Avenue

William D Tate Avenue

Champagne Boulevard

Champagne Boulevard

121

Kim’s Fashion

Upscale Spa & Nails

Bamboo HouseYogurt Story

Princess Salon and Spa

Gold Crown

Sky Nail SpaDonut Land

Style & Grace

NEARBY RETAILERS


PROPERTY DESCRIPTION

02

GUARANTOR OVERVIEW

PARENT COMPANY OVERVIEW

GB Auto Service, Inc has over 130 retail locations in the Southwestern United

States and is a leading provider of aftermarket automotive repair service. The

chain operates under various brands including: Tire Works Total Car Care,

BRAKEmax, Ramona Tire, Evans Tire, Lamb’s Tire, Driver’s Edge and Wilhelm

Automotive. GB Auto employs ASE-certified technicians that offer expertise in

the latest parts and products available in the automotive industry. The company

prides itself on maintaining its local feel by providing competitive prices for parts

and services, as well as excellent customer service.

Greenbriar Equity Group, LP is an investment firm made up of some of the

world’s largest foundations, university endowments, family offices, and insurance

companies. Since its founding over 20 years ago, the group has established

headquarters in Rye, New York and raised over $3.5 billion of committed capital

across four funds, acquiring 31 platform companies (including GB Auto Service,

Inc) and 51 add-on acquisitions to date.

Tenant's Name GB Auto Service Driver’s Edge, LLC

Ownership Private

Number of Locations 132

Guarantee Corporate

Guarantor GB Auto Service, Inc

Parent Company Greenbriar Equity Group, LP

Parent Company Name Greenbriar Equity Group, LP

Ownership Private

Investments 31 Platform Companies

Headquarters Rye, New York

Website www.greengriarequity.com

INVESTMENT HIGHLIGHTS INCLUDE:

• Ample On-Site Parking

• Lease Guaranteed by GB Auto Service, inc

• Over 14 years remaining on existing NNN Lease

• Regional Retailer with 7 Operating Brands

• Frontage on Glade Road & Hwy 121


SITE PLAN


FINANCIAL ANALYSIS

03

LEASE SUMMARY

Tenant's Name GB Auto Service Driver’s Edge, LLC

Company Type Private

Lease Guarantor: GB Auto Service, Inc

Lease Type: NNN

Rent Commencement: March 8, 2017

Original Term: 15 Years

Lease Expiration: March 31, 2035

Lease Term Remaining: 14+ Years

NOI: $199,514

Rent Increases: 10% every 5 years beginning 4/1/2022

Options To Renew: Two (2), Five (5) Year Options

LEASE ABSTRACT


AREA OVERVIEW

04

AREA OVERVIEW: GRAPEVINE, TEXAS

3 MILE RADIUS | AT-A-GLANCE

91,467Residents

37,121Households

39.7Median Age

$118,362Average Income

Located 20 miles outside of Dallas and just north of the DFW International Airport, Grapevine is a city located just south of Grapevine Lake, an 8,000-acre lake that is home to a variety of outdoor recreation activities to serve the Dallas/Fort Worth metro area. The Dallas/Fort Worth area has experienced population growth in the past 3 years, growing up 5.5%, with unemployment staying consistently lower than the national average by a full 1-2% in recent years. Additionally, Dallas/Fort Worth’s economic diversity helps in making the area resilient in more difficult times. Logistics, trade, and technology are the lifeblood of the economy, and many companies have set roots for their headquarters and thrived; Amazon, Facebook, Micron, AT&T and Exxon Mobil to name a few.

With a median age and net worth of 35.1 and $99,225, the Dallas/Fort Worth metropolitan area is a young, active and affluent metro with disposable income to pursue recreational activities such as boating, camping, diving and off-roading. Located along Highway 121 and Glade Road, Driver’s Edge is positioned to service a number of customers: patrons of the surrounding Glade Parks and Shops at Vineyard Village retail centers, those coming and going from the DFW International Airport and the stream of RV’s off-road vehicles and automobiles of lake-goers.


AUSTIN

HOUSTON

DALLASFORT WORTH

SAN ANTONIO

DRIVER’S EDGE BY GB AUTO

2050 GLADE ROAD | GRAPEVINE, TX


EXCLUSIVELY LISTED BY

Newmark Knight Frank (the “Agent”) has been engaged as the exclusive sales representative for the sale of 2050 Glade Road, Grapevine, TX (the ”Property”) by ‘Ownership’ (the “Seller”). The information contained herein has been obtained from sources deemed reliable but has not been verified and no guarantee, warranty or representation, either express or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.

CHASE DORSETT Associate

602.952.3844 [email protected]

STEVE JULIUS Senior Managing Director


JESSE GOLDSMITH Senior Managing Director


EVA HORTON Managing Director

Lic# 714610

Documents

DRIVER’S EDGE BY GB AUTO · EXECUTIVE SUMMARY 01 PROPERTY DESCRIPTION 02 FINANCIAL ANALYSIS 03 AREA OVERVIEW 04 2050 GLADE ROAD | GRAPEVINE, TX 2 . EXECUTIVE SUMMARY01. THE OFFERING