lamb’s tire & auto by gb auto

OFFERING MEMORANDUM

LAMB’S TIRE & AUTO BY GB AUTO1103 RR 620 | LAKEWAY (AUSTIN) , TX

AFFILIATED BUSINESS DISCLOSURE

Newmark Knight Frank (the “Agent”) has been engaged as the exclusive sales representative for the sale of 1103 RR 620, Lakeway, 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 (6/10/2020) 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

1103 RR 620 | LAKEWAY, TX 2

EXECUTIVE SUMMARY

01

THE OFFERING

Newmark Knight Frank (NKF) Capital Markets,

as exclusive advisor, is pleased to present the

opportunity to acquire Lamb’s Tire & Automotive

at 1105 RR 620 (the Property), a 3,879-square-foot

retail project in Lakeway, Texas.

GB Auto Service Driver’s Edge, LLC consists of

a single tenant on a NNN lease. Built in 1998, the

property is approximately 3,879 square feet siting

on 0.74 acres, with frontage on Ranch Road 620. In

addition, the asset benefits from visitors to the Oaks

at Legacy Mall just a few blocks away. GB Auto

offers an investor the rare opportunity to acquire a

well-maintained, stable asset in a rapidly growing

part of Austin, Texas.


OFFERING PRICE $2,880,000

CAP RATE 6.25%

NOI $180,000CORPORATE GUARANTEE GB Auto Service, Inc

PROPERTY SUMMARY OFFERING SUMMARY

GB AUTO SERVICE DRIVER’S EDGE, LLC1105 RR 620Lakeway, TX 78734

3,879 SF Total Building Area

1998 Year Built

0.74 ACLot Size

523148Parcel Number

PDZoning

NNNLease Type

11+ YearsLease Term Remaining

10% per 5 yrsRent Increases


NEARBY RETAILERS

RANCH ROAD 620

RANCH ROAD 620


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 11 years remaining on existing NNN Lease

• Regional Retailer with 7 Operating Brands

• Frontage on Ranch Road 620


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, 2032

Lease Term Remaining: 11+ Years

NOI: $180,000

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

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

LEASE ABSTRACT

1103 RR 620 | LAKEWAY, TX 11

AREA OVERVIEW

04

AREA OVERVIEW: LAKEWAY, TEXAS

3 MILE RADIUS | AT-A-GLANCE

31,941Residents

12,239Households

43.8Median Age

$171,602Average Income

Located 15 miles outside of Austin, Lakeway is a city located on Lake

Travis, a major tourism and recreation destination for one of the fastest

growing cities in the country. In 2019, Austin’s population grew by 52,030

residents, a 2.4% increase, drawn by a rapidly growing tech industry and

a high quality of life. Recent major corporate expansions include Apple,

Google, PIMCO, Katerra, Amazon and Allergan. In addition, Austin is also

home to over 100,000 university students across UT-Austin, Concordia

University Texas, St. Edward’s University and Austin Community College

District.

With a median age and net worth of 34.3 and $121,161, Austin is a young,

active and affluent metro with disposable income to pursue recreational

activities such as boating, camping, diving and off-roading. Situated along

the 620 S and TX-71 between Austin and Lake Travis, GB Auto is ideally

positioned to benefit from the nation-leading population growth and wealth

creation of the metro by servicing the increasing stream of RV’s, off-road

vehicles and automobiles of lake-goers.

1103 RR 620 | LAKEWAY, TX 13

AUSTIN

LAMB’S TIRE & AUTO BY GB AUTO

1103 RR 620 | LAKEWAY (AUSTIN) , TX

HOUSTON

DALLASFORT WORTH

SAN ANTONIO

1103 RR 620 | LAKEWAY, TX 14

EXCLUSIVELY LISTED BY

Newmark Knight Frank (the “Agent”) has been engaged as the exclusive sales representative for the sale of 1103 RR 620, Lakeway, 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

lamb’s tire & auto by gb auto

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