Retail Joint Venture Case Study

The Opportunity
An established auto parts operator sought to expand its footprint across the Northwest while retaining the ability to participate in the long-term upside of the underlying real estate. While ownership was important, the operators preferred not to deploy all of their capital or divert focus from day-to-day operations. They also recognized the opportunity to create a multi-generational investment platform—using real estate ownership to support cash flow in retirement and build lasting value for future generations.

The Joint Venture Structure
Rocky Mountain partnered with the owners of Dynaparts, a multi-store NAPA Auto Parts operator, through a joint venture structure that allowed the operators to invest alongside us without sacrificing operational capital or time. The partnership leveraged Rocky Mountain’s market knowledge, site selection expertise, and end-to-end development management, while aligning interests through shared ownership.

The Outcome

• 11 strategically located NAPA Auto Parts stores successfully developed and delivered by Rocky Mountain
• Shared ownership with participation in long-term asset appreciation
• Reduced exposure to development risk through aligned partnership structure
• A durable, multi-generational wealth creation vehicle
• Strong, competitive cash-on-cash returns

Why It Worked
The joint venture allowed Dynaparts to remain focused on operating excellence and brand growth while still benefiting from real estate ownership. With Rocky Mountain as the development partner, the projects were supported by local expertise, disciplined execution, and a proven development process—creating value for all parties involved.