Jiffy Lube Tenant Overview

Tenant Description

Jiffy Lube is a leading provider of automotive preventive maintenance.

Jiffy Lube net leases offer investors long term leases with plenty of rental increases. The NOI becomes very significant due to the compounding effect of annual increases. Most Jiffy Lube leases are triple net, leaving the investor with no landlord responsibility. Each location is owned and operated by a franchisee, however some leases will carry a corporate guarantee. The buildings Jiffy Lube operates in can be difficult to repurpose to other non-automotive care purposes. Even with the difficulty repurposing the location if Jiffy Lube should leave, they remain a popular investment because of the strong recession-proof nature of the automotive sector.

Jiffy Lube has been leading the automotive servicing industry for over 35 years. In 1979, Jiffy Lube created the first drive-through service bay to make oil changes quicker for customers. Putting the customer first, Jiffy Lube was the first to introduce the window sticker to remind customers when they are due for their next oil change.

Today, Jiffy Lube helps 20 million customers each year from more than 2,000 locations. While Jiffy Lube is headquartered in Houston, Texas. Jiffy Lube is a subsidiary of Pennzoil which is owned by Shell Oil (NYSE: RDS.A).