Penske Truck Leasing

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LTV (Loan to Value)	0.00%	Current NOI
Interest Rate	0.000%	Cap Rate	0.000%
Fixed Term	+/- 4 Years Years	Land Area
Amortization	Years	Lease Type
Loan Amount		Property Type
Payment		Property Lease
Building Size		Remaining Terms

Location Description

Villa Rica is a city in Carroll and Douglas Counties in the U.S. state of Georgia. Villa Rica is home to the first Gold Strike in Georgia as well as being home to Coca-Cola legend Asa Candler and Gospel Music founder Thomas A. Dorsey. The population was 4,134 at the 2000 census. By the 2010 census, the population had grown to 13,956, an increase of approximately 238%. Slightly more than half of Villa Rica lies within Carroll County, Georgia and the remaining portion lies within Douglas County, Georgia. Over most of its 180 year history, Villa Rica was a small rural railroad and factory town with a fairly stable population of around 4,000 people. This is in spite of the fact it's located only half an hour from downtown Atlanta. However, throughout the 1990s, a 2,000-acre tract of land surrounding a 210-acre lake known as both Val-Da-Mar Lake and Stockmar Lake got a lot of interest from developers. In addition, the substantial investment in Mirror Lake inspired other developers to begin proposing other projects around Villa Rica. Though the other developments were on a much smaller scale, all of the other building projects combined almost matched the Mirror Lake project in total number of residences. Tourists can enjoy the Historic Downtown with its authentic architecture and enjoy the Pine Mountain Gold Museum.

Highlights

Investment Grade Tenant - Penske Truck Leasing (S&P Rated BBB-) is a privately held joint venture of Penske Corporation, Penske Automotive Group and GE Capital Corporation (S&P Rated AA+).Long Tenancy History – Penske has a long history of success at this location with the initial lease dating back to 2004. In early 2014 Penske demonstrated their commitment to this location by exercising their first 5-year option to extend the lease with an 8% rent escalation.Service and Maintenance Center – Penske utilizes this location to provide service and maintenance to its vast fleet of rental vehicles, heavy duty tractors, and semi-trucks. The structure includes three drive-thru bays and an above grade fueling station. The site is also used as a sales center for Penske’s used vehicles.Immediate Highway Access – The subject property benefits from close proximity to Interstate 20, the main thoroughfare between Atlanta and Birmingham. Interstate 20 is highly trafficked by heavy duty and semi trucks, making this strategic location a high volume service provider.Large 3-Acre Parcel – The large 3-acre site allows for flexibility of uses and provides Penske enough space to operate a sales center for their used fleet. The current owner also controls 2-adjacent acres that can be included in this sale.

NNN Loans Funding

Triple-Net Lease Financing arranged by NNNLenders. Offering Triple Net NNN Property Loans.