CrownPoint Partners Finalizes Acquisition of Take 5 Oil Change Lease in Panama City Beach, FL

CrownPoint Partners Finalizes Significant Acquisition

CrownPoint Partners, a leading real estate brokerage, recently announced the successful acquisition of a Take 5 Oil Change ground lease. The property, located at 11858 Panama City Beach Parkway in Panama City Beach, Florida, illustrates foundational growth in a thriving market. This acquisition aligns seamlessly with the company's strategy of representing private investors in high-quality net lease assets across the country.

The Take 5 Oil Change site spans 1,430 square feet and is situated on a 1.33-acre lot that benefits from a prime location at the busy intersection of U.S. Highway 98 and North Alf Coleman Road. The investment is secured by a 20-year absolute ground lease backed by corporate guarantees, featuring substantial rental increases of 10% every five years along with four renewal options.

This strategic acquisition is part of a larger commercial development that includes beloved brands like McDonald's, Panera Bread, and PenAir Federal Credit Union, demonstrating CrownPoint's commitment to securing desirable assets in prime locations.

The location's attractiveness is amplified by Panama City Beach's growing visibility, where about 50,000 vehicles pass daily. This area stands as one of Florida's rapidly expanding coastal markets, driven by more than just tourism; it serves a flourishing residential community and attracts around 14 million visitors annually. The property sits adjacent to a large retirement community and J.R. Arnold High School, which serves over 1,600 students, further solidifying its market significance.

Shannon Bona, Managing Partner and Co-Founder of CrownPoint, shared insights into the area's growth. He highlighted the remarkable 10% population increase between 2020 and 2024, alongside a projected 16% growth by 2030. With Bay County ranking second nationally for growth from 2023 to 2024, the area presents an exciting opportunity for investors.

Bona expressed his enthusiasm about the acquisition, stating, “I’m witnessing rapid expansion in the local economy every day, and my client, a California resident, is thrilled to invest in such a vibrant community.” He emphasized that the Take 5 Oil Change brand reflects the area's vitality, noting its position as one of the fastest-growing names in the quick-service automotive sector. Under the umbrella of Driven Brands (NASDAQ: DRVN), Take 5 has expanded to over 1,000 locations nationwide, benefiting from strong consumer demand for vehicle maintenance and service.

This acquisition underscores CrownPoint Partners' expertise in navigating the commercial real estate landscape and assisting investors in pursuing net lease investment opportunities, especially in markets they know intimately. CrownPoint offers a comprehensive range of services tailored to meet the needs of their clients, which encompass REITs, institutions, private equity, and individual investors alike.

Founded by industry veterans Julius Swolsky, Shannon Bona, and Don Bingham, CrownPoint provides specialized advice backed by years of experience in investment sales, leasebacks, and real estate development. Their dedication to transparency and responsible investment practices has fostered numerous long-term partnerships with clients, helping them meet their financial objectives effectively.

For more information about CrownPoint Partners and their services, please visit their official website at www.crownpoint.co.