The subject property is a 70,960-square foot, newly constructed Harley-Davidson dealership located in Bedford, Texas. This is a new 15 year, absolute net lease to be executed upon closing and will have 10 percent rent escalations scheduled every five years. The lease will have a personal guarantee that will burn off after lease year seven. Tenant will have two, five-year options for renewal. This location has been recently recognized as the number one Harley-Davidson dealership in Texas.
The subject property is located on Texas Harley Way one block north of Texas Highway 121/183 (Airport Freeway) with excellent visibility from the freeway. Traffic counts are approximately 170,000-vehicles per day on Airport Freeway in front of the property. Numerous national and regional retailers are in the surrounding area, including Buffalo Wild Wings, Cheddar’s Scratch Kitchen, Posados Café, Extended Stay America, Spring Creek Barbeque, Bank of America, 24 Hour Fitness, Chili’s Grill & Bar, Pappadeaux Seafood Kitchen, Marriott Courtyard, Homewood Suites, and more. The densely populated area has over 238,800 residents within five miles with an average household income of $84,500.
The dealership, Texas Harley-Davidson, has been ranked #1 in Texas by sales volume for the last four years. It has also been ranked in the Top 10 Harley-Davidson dealerships in the World for four years running. Along with many industry awards by Dealernews and Powersports Business, the dealership has also been awarded various Bar & Shield Awards by the Harley-Davidson Motor Company – a distinction reserved only for top dealerships for superior customer service and sales performance.