Property details

Chick-fil-A Ground Lease For Sale, Northeast Region

Property Description

Chick-fil-A Ground Lease For Sale

• Corporate Chick-Fil-A Ground Lease

• Chick-Fil-A has 18 years remaining on the ground lease with 10% rent increases every 5 years.

• Incredible location in a development consisting of more than 950,000 square feet.

• Retailers include Lowe's, Target, Best Buy, Giant Food, Petsmart, DSW, Sports Authority, World Market, LaZBoy, Walgreen's, 7-Eleven, Buffalo Wild Wings, Chili's, Chipotle, BB&T, Mimi's Cafe, along with several other national retailers.

• Demographics within 5 miles include Average Household Income of $110,758

• Median Household Income of $100,181

• Population of 77,415.

Incredible investment opportunity to purchase a Chick-fil-A Ground Lease that is part of an exciting mixed use development. Located close to a Interstate/Route interchange this development features a mix of retail, office and hotel uses. This is a shopping, dining and professional services destination of choice in a fastgrowing, affluent trade area. Serving this population is a wide variety of retail. Traffic counts are 63,000; 20,000 and 14,570.


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About the Tenant

http://en.wikipedia.org/wiki/Chick-fil-A

Chick-fil-A is a quick service restaurant chain headquartered in College Park, Georgia, United States that specializes in chicken entrées and is known for promoting the company's vision of Christian values.

Though long associated with the southern United States, the chain has expanded into more of the country. As of January 2011, the chain has 1,541 locations in 39 U.S. states and the District of Columbia.

The chain is famous for being closed on Sundays. In an interview with ABC News's Nightline, Dan Cathy (son of company owner S. Truett Cathy) told Vicki Mabrey the origin of that company decision. His father, Truett Cathy, the founder of Chick-fil-A, opened his first restaurant on a Tuesday and "by the time Sunday came, he was just worn out. And Sunday was not a big trading day, anyway, at the time. So he was closed that first Sunday and we've been closed ever since. He figured if he didn't like working on Sundays, that other people didn't either." Cathy quoted his father Truett as saying " 'I don't want to ask people to do that what I am not willing to do myself.'"

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Highlights

Status:
Sold
Price:
$2,250,000
PSF:
$515
Cap Rate:
6.00%
Annual Rent:
$135,000
Rent Increases:
Years 6-10: $148,500

Years 11-15: $163,350

Years 16-20: $179,685
 

Property Information

Building Size:
4,368 sq.ft.
Property Type:
Ground Lease
Industry Type:
Restaurant
Units/Spaces:
1
Land Area:
0.78 acres
Purchase Tenure:
Fee Simple
 

Lease information

Tenant:
Chick-fil-A
Lease Type:
NNN
Lease Commencement:
03/12/2009
Lease Expiration:
03/31/2029
Lease Term:
20 years
Lease Remaining:
14.4 years
Landlord Responsibilities:
None
Options:
Three 5-year Options at $197,653.50, $217,418.85 and $239,916.73
 

Existing financing information

N/A

The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.