NEW YORK, Dec. 21, 2021 /PRNewswire/ — Machine Investment Group (“Machine”) has acquired a portfolio of net-leased Jiffy Lube service centers in the San Francisco Bay Area. Machine partnered on the deal with The Cogent Group, purchasing the portfolio from a private owner. The Jiffy Lube portfolio includes the fee simple interest in eight well-located Jiffy Lube service centers totaling 38,360 square feet. The portfolio is conveniently located in some of the most highly trafficked and dense areas in the San Francisco Bay Area, with close proximity to Google, Meta (Facebook), Santana Row, Mill Valley, the Westfield Valley Fair mall, and many other Silicon Valley points of interest.
The Portfolio is 100% occupied by Jiffy Lube International, Inc. (“Jiffy Lube”), a leading provider of automotive preventive maintenance that serves over 20 million customers each year. The leases are absolute NNN with annual rent escalations, features that are attractive in an inflationary environment.
Machine Investment Group (www.machineinv.com) is a real estate investment platform focused on opportunistic, distressed and special situations across the United States. Founded by former senior executives from Garrison Investment Group, Machine invests primarily in the middle market, where its reputation as a reliable counterparty, its solutions-oriented approach and extensive lender relationships distinguishes the firm from its competition. Machine’s strict risk discipline, institutional…
