Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm arranged the sale of a new construction, single-tenant net lease investment property occupied by Strickland Brothers 10 Minute Oil Change within a new Publix-anchored shopping center in Huntsville, Alabama.
Hanley Investment Group’s Executive Vice Presidents Jeff Lefko and Bill Asher, in association with ParaSell, Inc., represented the seller and developer, N3 Real Estate of Southlake, Texas. The buyer, a private investor based in metro Macon, Georgia, was represented by Andy Shipp, CCIM of Sovereign Partners LLC in Conyers, Georgia.
Lefko commented on the transaction, stating, “We successfully facilitated the sale by procuring an all-cash Southern U.S.-based 1031 exchange buyer, negotiating a quick 14-day due diligence period, and achieving a cap rate of 6.16%, the lowest-cap rate nationwide for a single-tenant net lease Strickland Brothers to sell in 2023.” Lefko added, “The sale is significant because it demonstrates the buyer’s significant interest in Strickland Brothers credit, and it shows that the cap rate spread between a Strickland Brothers and Jiffy Lube or Valvoline is minimal.”
The newly constructed, 1,725-square-foot building leased to Strickland Brothers is located on a 0.74-acre pad at 2312 Zierdt Road at the hard corner intersection of Zierdt Road and Redstone Square Drive in Huntsville. Strickland Brothers opened in February 2023 and operates under a corporate guaranteed lease with zero landlord responsibilities. The absolute triple-net lease features 10% increases every five years, with an initial lease term of 15 years and four five-year options.
According to Lefko, the brand has grown to over 200 locations in 27 U.S. states. Strickland Brothers 10 Minute Oil Change began franchising in 2019 and rapidly emerged as one of the fastest-growing franchises in the United States, securing an impressive No. 29 among the Top New and Emerging Franchises, which featured 150 franchises and No. 130 in the Fastest-Growing Franchises Worldwide, as reported by Guidant. In Entrepreneur’s 2023 Franchise 500 list, Strickland Brothers secured an impressive 45th position.
In 2022, Strickland Brothers was brought under the parent company Accelerated Brands. Accelerated Brands, headquartered in Winston-Salem, North Carolina, is the parent company of a variety of aftermarket automotive brands within the Quick Lube and Car Wash sectors: Strickland Brothers 10 Minute Oil Change, Trademark Car Wash, Quickshine Car Wash, Magic Express Wash & Lube, The Express Wash, Delta Car Wash Express. With over 1,750 employees combined, all businesses generate more than $240 million in system sales and service approximately three million vehicles annually.
“Strickland Brothers 10 Minute Oil Change represents a service-based, internet-resistant investment poised for long-term success,” Lefko highlighted. “The continual need for vehicle maintenance to ensure proper functioning positions Strickland Brothers in a high-demand and recession-resilient industry—qualities that make it particularly attractive to investors.”
Situated in northern Alabama, the Strickland Brothers-occupied property benefits from the strategic location within The Shoppes at Redstone Square, a new Publix-anchored shopping center, contributing to the vibrant local economy. The demographic appeal is underscored by an average household income of $117,831 within a three-mile radius and a population growth exceeding 53% within a one-mile radius.
The Huntsville Metropolitan Statistical Area, recognized as the second-largest metropolitan area in Alabama with 1.2 million residents, has garnered national acclaim, ranking as the #1 The 10 Best Places to Live in the U.S. in 2022-2023 by U.S. News & World Report. The area is witnessing substantial economic growth, highlighted by the U.S. Space Force’s move to the Redstone Army base and Toyota/Mazda’s construction of a $2.3 billion manufacturing plant.
Additionally, the FBI Innovation Center at Redstone Arsenal, with a $2.48 billion investment, further contributes to the region’s economic vitality. Town Madison, a modern, walkable urban community, adds to the appeal of the location, featuring distinct districts and amenities such as Toyota Field, a state-of-the-art facility seating up to 7,000 people.
In June 2023, Hanley Investment Group, in association with ParaSell, Inc., completed the sale of Strickland Brothers in Liberty, Missouri and is marketing for sale other single-tenant net lease properties occupied by Strickland Brothers.
About Hanley Investment Group
Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with over an $11 billion transaction track record that specializes in the sale of retail properties nationwide. Our expertise, proven track record, and unwavering dedication to putting clients’ needs first set us apart in the industry. Hanley Investment Group creates value by delivering exceptional results through the use of property-specific marketing strategies, cutting-edge technology, and local market knowledge. Our nationwide relationships with investors, developers, institutions, franchisees, brokers, and 1031 exchange buyers are unparalleled in the industry, translating into maximum exposure and pricing for each property. With unmatched service, Hanley Investment Group has redefined the experience of selling retail investment properties. For more information, visit www.hanleyinvestment.com.
