Safelite AutoGlass 319 Mountain Avenue, Hackettstown, NJ 07840
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OFFERING MEMORANDUM
PRICE: $1,614,292.00 CAP RATE: 5.5%
Safelite AutoGlass
319 Mountain Avenue, Hackettstown, NJ 07840
Prepared by: John Aderholt, Principal Adam Weidner Jessica Jarosz
jdaderholt@centuryequities.com aweidner@centuryequities.com jjarosz@century-realty.com
304.232.5411 304.232.5411 412.235.7233
Lease Abstract Rent Schedule
Safelite Fulfillment, Inc. Safelite Annual Rent
Tenant/Guarantor: AutoGlass Period Monthly Rent
(Corporate)
319 Mountain Avenue 1/1/2021-12/31/2021 $7,218.38 $86,620.56
Address:
Hackettstown, NJ 07840
1/1/2022-12/31/2022 $7,398.84 $88,786.08
Price: $1,614,292.00 (5.5% CAP rate)
Primary 1/1/2023-12/31/2023 $7,583.82 $91,005.84
Building Area: 5,000 SF Term
1/1/2024-12/31/2024 $7,773.41 $93,280.92
Land Area: 0.54 Acres
1/1/2025-12/31/2025 $7,967.75 $95,613.00
Year Built: 1955
1/1/2026-12/31/2026 $8,166.94 $98,003.28
Lease Expiration Date: 12/31/2026
Remaining Term: 5 years, 4 months
NOI (January 2022): $88,786.08
*LANDLORD RESPONSIBILITIES SUMMARY
2.5% annual increases in initial The Landlord is responsible for the following:
Rent Increases: term and the two (2) renewal • Maintain, repair or replace, as needed, the structure of the Building,
options including, but not limited to, the roof, roof membrane and roof
structure; the exterior walls; the foundations and the permanent parts
Renewal Options: Two (2), Five (5) Year Options of floors excluding floor coverings
Lease Type: Triple-Net (NNN) Tenant is responsible for all other expenses, including parking lot, taxes,
insurance, etc.
Landlord Responsibilities: Roof & structure only*
All information within this Offering Memorandum is confidential and proprietary. Century, as owner, has compiled this information to the best of its knowledge, but does
not guaranty its accuracy. ALL PROPERTY INFORMATION SHOULD BE CONFIRMED BY THE BUYER BEFORE ANY COMPLETED TRANSACTION. The Confidentiality and
Buyer Registration Agreement must be signed and reviewed by the intended parties. By receiving this Offering Memorandum, you are agreeing to the Confidentiality and
Buyer Registration Agreement. For any questions, please contact John Aderholt, Adam Weidner, or Jessica Jarosz at 304.232.5411.
Property Information ▪ 5,000 square foot freestanding building situated on 0.54 Acres ▪ 10-Year initial NNN lease with 5 years, 4 months remaining (Two, 5-Year renewal options); Lease expires 12/31/2026 ▪ Landlord responsible for roof and structure; New roof and other improvements completed in 2016 ▪ 30-year operating history at this location ▪ Located along the area’s primary commercial corridor and within 0.5 miles from Lowes, Applebee’s, Chase Bank, McDonald’s, AutoZone, and Rite Aid | Several major big box and other retailers/restaurants are situated under 2 miles from the property ▪ 1.5 miles from Centenary University, Hackettstown High School, Downtown Hackettstown, and US Route 46 ▪ Located in Warren County (population 106,869) and part of the Allentown- Bethlehem-Easton PA-NJ Metropolitan Statistical Area commonly known as the Lehigh Valley (population 832,327)
Site Plan
Tenant Overview Founded in Wichita, Kansas in 1947 and currently headquartered in Columbus, OH, Safelight serves over 6 million customers annually and employs more than 13,000 team members, including 6,000 technicians. Safelite AutoGlass is the largest auto glass specialist in the United States with more than 720 locations. Safelite AutoGlass provides convenient mobile auto glass repair and replacement services, available to 97% of drivers in all 50 states. Safelite Group, a subsidiary of Belron, is a multifaceted auto glass and claims management service organization and is comprised of three major business operations: Safelite Auto Glass, Safelite Solutions (claims management), and Service AutoGlass (vehicle glass, tools, and materials wholesaler). Safelite Solutions services claims for more than 175 insurance and fleet companies, including 19 of the top 30 property and casualty insurance companies. It operates four national call centers open 24/7. Safelite Fulfillment, Inc. is the tenant and operates under the tradename Safelite AutoGlass and giant Glass. Safelite AutoGlass is a private company and is not rated by S&P or Moody’s. According to hoovers.com, annual revenue is estimated to be approximately $2.2 Billion. The company’s financial strength and ability to meet its lease obligations is demonstrated by a 70-year performance history. Corporate Information Tenant: Safelite Fulfillment, Inc. (Corporate) Type: Private Founded: 1947 US Headquarters: Columbus, OH Locations: Over 720 retail stores in 50 states No. of Employees: Approximately 13,000 employees Website: www.safelite.com
Location Overview – Hackettstown, NJ Hackettstown is located in the eastern Lehigh Valley along the Musconetcong River, 40 miles east of Allentown, PA and 50 miles west of New York City. Mars Chocolate USA (makers of Milky Way, Mars, M&Ms, Twix, Snickers, Combos, Pedigree/Whiskas pet foods, and others) is headquartered in Hackettstown. Warren County is a prime regional destination for hunting and fishing with five major waterways, and home to multiple park/preserve destination sites, as well as historic Blairstown Theatre. Centenary University, a 150-year old private liberal arts college with a total enrollment of 2,700 students, is in Hackettstown. Hackettstown, NJ is part of Lehigh Valley and on edge but within the greater NYC Metro Area Located in Warren County (population 106,869) and part of the Allentown-Bethlehem-Easton PA-NJ Metropolitan Statistical Area commonly known as the Lehigh Valley (population 832,327) The Lehigh Valley is the fastest growing and third most populous region in PA, and 64th most populated MSA in the U.S. The Lehigh Valley is also part of the larger New York metro area, making it the most populous Combined Statistical Area in the U.S.
Maps
PA
Team John Aderholt, Principal Adam Weidner jdaderholt@centuryequities.com aweidner@centuryequities.com 304.232.5411 304.232.5411 Jessica Jarosz jjarosz@century-realty.com 412.235.7233 960 Penn Avenue, Suite 1001 ▪ Pittsburgh, PA 15222 Century Centre ▪ 1233 Main Street, Suite 1500 ▪ Wheeling, WV 26003 304.232.5411 ▪ www.centuryequities.com
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