Rogue Valley Mall - Sale
1600 N Riverside Ave, Medford, OR, 97501-4652, US
59,860 m²
Asset Description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee-simple interest in a 4,190 square foot freestanding, single-tenant Pizza Hut located at 10535 S Parker Road in Parker, Colorado (“Property” or “Asset”). GMRG ACQ1, LLC (“Tenant”) will enter a 15.0-year, absolute NNN lease at the transaction’s closing with 1.50% annual rent escalations and four, 5-year extensions.
The Asset is guaranteed by Grand Mere Restaurant Group (“Guarantor”). Grand Mere is a leading Pizza Hut franchisee with 140 stores and 3,000+ employees that achieve more than $130 million in revenue.
Pizza Hut is currently undergoing a $200,000 renovation, with an additional $60,000 in CAPEX investment over the previous two years.
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Attributes
Asking price
€1,294,000
Cap rate
6.75%
NOI
€88,000
WAULT
15 years
Building area net
389 m²
Lease type
Absolute Triple Net
Media
Investment Highlights
- Pizza Hut will enter a 15.0-year absolute NNN lease upon transaction closing
- Experienced franchisee with 140 locations and 3,000+ employees
- Undergoing $200,000 renovation
- Positioned in a dense retail corridor with direct visibility to more than 50,500 VPD
- Nearby Parker Pavilions shopping center that ranks in the top 4% of most visited shopping centers in CO and across the nation (Placer.ai)
- Fast-growing residential market expected to increase population by 27%
- Just 20 miles southeast of downtown Denver, one of the country’s most sought-after markets
Contact brokers
Pizza Hut - Parker, CO SLB (0 Properties)
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Last updated
25 Nov 2024
