Hardee's Restaurant For Sale, Southeast Region

Property Description

Investment Highlights

• Absolute Triple-Net (NNN) lease- Tenant pays taxes, insurance, repairs and maintenance.

• Outparcel to a well-established shopping center.

• Ideal location with excellent visibility along a State Route.

• Excellent Traffic Counts- Approx 19,200 cars per day along State Route.

Lease Summary

• Tenant: Hardee's

• Lease Type: Absolute Triple Net (NNN)

• Corporate Guarantee: Hardee's Food Systems, Inc.

• Structure: Tenant Responsible

• Original Lease Term: 11 Years

• Lease Commencement: November 1, 2008

• Lease Expiration: October 31, 2019

• Increases: 10% Every 5 Years

• Renewal Options: (4) 5-Year Options

• Percentage Rent: The amount, if any, by which seven percent (7%) of annual gross sales exceeds annual base rent.

• Franchisee Assignment: Tenant may assign this lease to a franchisee of Hardee's Food Systems, Inc., subject to Landlord's consent.

10% Every 5 Years

The subject property is an opportunity for an investor to acquire a corporate, triple-net (NNN) leased propert. The Hardee's is located on a major Highway on an outparcel to a shopping center. The subject is an approximate 3,490 square foot, free standing retail building with drive-thru on approximately 45,246 square feet of land. The property was built in 1996. The existing lease is on year 3 of an 11 year, triple net (NNN) Corporate lease to Hardee's with options to extend (Four 5-year options to extend).

The property is located on an outparcel to a grocery anchored shopping center . Other retailers in the center and immediate area include Food Giant, Subway, Dollar Tree, BP, Regions Bank, Little Caesar's, CVS Pharmacy, Texaco, Winn Dixie, Rite Aid and others.

About the Tenant

Hardee’s Corporation

Hardee’s Food Systems, Inc is a subsidiary of fast food giant CKE Restaurants. In 1997, the chain was acquired by CKE Restaurants, the parent company of the Carl’s Jr. fast-food restaurant chain. Over time, some Hardee’s restaurants were converted to serve higher-quality hamburgers and other products available from Carl’s Jr., and also took on the Carl’s Jr. Star logo in the process. CKE Restaurants has been dual branding some Hardee’s locations with Red Burrito, similar to its Green Burrito/Carl’s Jr. dual brand concept to help expand brands without the additional expense of new buildings and land. Hardee’s has found a niche market in smaller towns that may lack franchises of the other major hamburger chains.

As of the fiscal year ended January 25, 2010, CKE Restaurants, Inc., through its subsidiaries, had a total of 3,141 franchised or company-operated restaurants in 42 states and in 14 countries, including 1,905 Hardee’s restaurants and 1,224 Carl’s Jr. Restaurants. According to the June 29, 2009 issue of Nation’s Restaurant News, our Hardee’s and Carl’s Jr. chains are the tenth and twelfth largest sandwich restaurant chains in the United States, respectively, based on U.S. system-wide foodservice sales.

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