2726 S Front St
Philadelphia, PA 19148
AutoZone | High Traffic Location! · Retail Property For Sale

Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer the ground leased interest in this newly constructed AutoZone in Philadelphia, Pennsylvania. The Tenant, AutoZone, is subject to a new 15-year absolute NNN corporate ground lease with zero landlord responsibilities. The lease features ten percent (10%) rental increases in each option period. The lease is guaranteed by the corporate entity which carries an investment grade “BBB” rating by Standard & Poor’s, and is publicly traded. AutoZone operates more than 5,400 stores located throughout the United States, Mexico, the District of Columbia, Puerto Rico and Brazil. The Tenant is exceptionally well-located along Front Street just south of its signaled intersection with Oregon Avenue. This is a high-traffic location one-tenth-of-a-mile from the Interstate-95 on/off ramp. On average, 40,951 vehicles pass the site daily with an additional 14,324 vehicles along Oregon Avenue. AutoZone has prominent visibility and two means of ingress/egress, one of which is a shared access point with neighboring Burger King. The Tenant will benefit from natural retail synergy and traffic generated by Burger King as well as proximity to other notable retailers. The Property is in close proximity to Whitman Plaza, a 415,287-square-foot retail center anchored by Burlington Coat Factory, ShopRite and Ross Dress for Less, and retailers McDonald’s, TD Bank, Dollar General and Dunkin’ Donuts. AutoZone also benefits from limited competition in the immediate submarket. The nearest national brand auto parts stores are located more than two miles away where Advance Auto Parts (2-mi), Pep Boys (2.5-mi) and NAPA Auto Parts (8.3-mi) have locations. A two-mile distance in a dense market like Philadelphia is an immense distance. Located three miles south of downtown Philadelphia, the Property is in the notable “South Philadelphia” neighborhood. This is a highly dense location with 36,449 people within one mile. The Property is positioned two-tenths-of-a-mile from the juncture of Interstate-95 (94,631 VPD) and Interstate-76 (57,479) and 1.5 miles from the Philadelphia Sports complexes. The area surrounding the sports complexes is experiencing significant redevelopment in recent years. Construction is slated to begin on Live! Hotel and Casino, a new $600 million casino with an upscale boutique hotel that will feature 2,000 slot machines, 125 table games and more than 200 rooms. The casino will be developed next to Xfinity Live!, a $150 million mixed-use entertainment project which Cordish built in partnership with Comcast-Spectacor in 2012. Both properties are positioned one-mile from the subject. Further, two miles south is The Navy Yard, a 1,200-acre urban development offering the Philadelphia region a centrally-located waterfront business campus home to more than 13,500 employees and 165 companies in the office, industrial, manufacturing, and research and development sectors.