Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, recently 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. “We represented a 1031 exchange buyer based in South Florida who had sold farmland in Florida to a major home developer and sought to reinvest in single-tenant, absolute net-leased properties occupied by a national credit tenant with a long-term lease located in Texas or Florida,” noted Wood.
Wood continues, “We sourced and assessed potential properties meeting our client’s acquisition requirements, negotiated more favorable pricing, resulting in significant savings on both acquisitions, and closed escrow within 30 days for the North Richland Hills property and 39 days for the Killeen property.”
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.
Established in 1990, Englewood, Colorado-based Brakes Plus is a full-service auto repair shop, offering services ranging from oil changes and alignment to A/C repair and engine maintenance. The company has 156 locations across six states (Texas, Colorado, Arizona, Iowa, Nebraska and Wyoming). Brakes Plus is part of a family of brands, which includes Express Oil Change & Tire Engineers, Mavis, Town Fair Tire and Tuffy Tire and Auto Service.
Over the past 36 months, Hanley Investment Group has facilitated the sale of $439 million worth of retail properties in the Texas market and currently has seven single-tenant net-leased properties in escrow.
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.
