Firestone has been open at this location for over 35 years and recently executed a new 10-year primary lease with rental increases every 5 years throughout the option terms.
JLL is pleased to exclusively offer a premier net lease opportunity to acquire an investment grade single tenant Firestone (the “Property”) located in Richmond Heights, Ohio with over 9 years of remaining lease term and attractive rental increases throughout the option terms. Firestone has been a tenant at this location since 1983. Firestone is positioned directly on Wilson Mills Road with exposure to over 17,000 VPD and is located directly in front of the Richmond Town Center Mall which boosts consumer traffic to the site. The Mall is currently in the process of redeveloping the former Sears to include to include a a 91 key Marriott Brand hotel, 375 rental units and various other amenities which will boost consumer traffic to the site. The Property is fully leased to Firestone which offers a wide variety of maintenance and repair services for all makes and models of automobiles. The chain is a subsidiary of Bridgestone Americas Holdings, Inc., an international manufacturer of tires and other products. Tires are the largest part of Bridgestone Americas’ business, accounting for approximately 75% of annual revenues. In addition to tires, it also manufactures and markets a variety of other products, including air springs, building materials, synthetic and natural rubber and industrial fibers and textiles.