Salad and Go - Princeton, TX_Property for Sale
Salad and Go - Princeton, TX_Property for Sale
822 U.S. 380, Princeton, TX, 75407, US

Salad and Go - Princeton, TX

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the ground lease interest in a brand new 2023 construction Salad and Go located in Princeton, TX (the “Property” or “Asset”). Salad and Go is currently operating on a 20-year ground lease featuring zero landlord responsibilities. Salad and Go operates 135 restaurants, quadrupling its size in under three years.


The Asset is located 30 miles northeast of Dallas in the rapidly growing city of Princeton. The Asset occupies a strategic position along the booming US-380 retail corridor with direct exposure to over 37,000 vehicles per day. Princeton is in Collin County, one of the fastest-growing counties in the state.


The Property sits within the new Market Street development, a grocery-anchored shopping center with tenants set to include Market Street, The Learning Experience, Blaze Pizza, and Chipotle, among others. Adjacent is the new Princeton Town Center, a soon to be developed 66-acre power center featuring national tenancy.  


Princeton is a highly affluent city that has experienced rapid 265% population growth since 2010 in a 1-mile radius boasting household incomes of nearly $106,000. Princeton is undergoing substantial residential growth with several developments planned and underway totaling more than 17,700 single-family units and 5,100 multifamily units.


The Offering provides investors with the opportunity to acquire 20 years of passive cash flow from a rapidly expanding tenant with 10.0% inflation-hedging rent escalations every 5-years during the primary lease term and throughout all three, 5-year options. 

...

Attributes

Asking price
A$2,381,000
Cap rate
6%
NOI
A$143,000
Year built
2023
Building area net
80 m²
WAULT
20 years

Media

Investment Highlights

Best-in-class tenancy with consistent growth

 

Ground lease with zero landlord responsibilities and 20+ years of remaining lease term with 10% rent bumps every 5 years

 

Within the new Market Street development and adjacent to the 66-acre Princeton Towne Center Development featuring a number of national retailers

 

Incredible demand characteristics driven by rapid 265% population growth since 2010 and AHHI of $110,000 within a 1-mile radius

 

Exposure to over 37,000 vehicles per day on major throughfare in growing Princeton retail hub


Salad and Go - Princeton, TX 4_Property for Sale
Salad and Go - Princeton, TX 4_Property for Sale

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Salad and Go - Princeton, TX (0 Properties)

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Last updated
16 May 2024