Hanley Investment Group Real Estate Advisors facilitated the acquisition of two single-tenant net-leased properties occupied by Brakes Plus in North Richland Hills and Killeen, Texas, in separate transactions.
Hanley Investment Group’s Vice President Garrett Wood represented the buyer, a Florida-based private 1031 exchange investor.
The first Brakes Plus-occupied property is located at 8612 Precinct Line Road in North Richland Hills, part of the Fort Worth-Dallas metro area, near the signalized intersection of Davis Boulevard and Precinct Line Road (with 44,500 vehicles per day).
Built in 2022, the 4,956-square-foot Brakes Plus sits on a 1.02-acre parcel adjacent to Super Target and a Walmart Supercenter, with over 18 years remaining on the absolute triple-net lease, which has a corporate guarantee by Mavis Tire Express Services Corp. Other national tenants within a mile of the property include Kroger, Walgreens, Aldi, Starbucks, McDonald’s Chick-fil-A, Dutch Bros and Bank of America. The seller, a Colorado-based private investor, was represented by Marcus & Millichap’s Drew Isaac, Brian Bailey and Tim Speck.
The second Brakes Plus-occupied property is situated in Central Texas at 3301 West Stan Schlueter Loop in Killeen, which sees nearly 30,000 vehicles per day. Killeen is home to Fort Hood, now known as Fort Cavazos, one of the largest military installations in the world.
Built in 2023 on a 1.04-acre parcel, the 4,900-square-foot Brakes Plus has nearly 15 years remaining on its new absolute triple-net lease, which has a corporate guarantee by Mavis Tire Express Services Corp. The property is located near Walmart, HEB grocery store, Dollar General and Arby’s. Recently constructed sites nearby include Mister Car Wash, CVS, Popshelf, Starbucks, Sherwin-Williams and Taco Casa.
The seller, a Los Angeles-based private investor, was represented by Sands Investment Group’s Matt Montagne, Maxwell Watson and Tyler Ellinger.
