Outback Steakhouse - North Wales, PA_Propriété à vendre
Outback Steakhouse - North Wales, PA_Propriété à vendre
450 Montgomery Mall, North Wales, PA, 19454, US

Outback Steakhouse - North Wales, PA

Description de l'actif

Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in the single-tenant Outback Steakhouse (the “Property” or “Asset”) located at 450 Montgomery Mall in North Wales, PA. The Property totals 6,830 SF and features a 10-year lease with four (4), five-year renewal options, and 10% rent bumps in the primary term and throughout the renewal options. The lease structure is an absolute NNN lease and offers investors long-term cash flow with no landlord expenses.


The Asset is located in North Wales, within the Philadelphia MSA. The Property sits on an out-parcel to the Montgomery Mall (3.2 million annual visitors) at the intersection of Bethlehem Pike and Dekalb Pike (combined 45,760 VPD). Additionally, across the street from the Property, the Airport Square shopping Center, which is home to national retailers such as Best Buy, Marshal’s, Michael’s, HomeGoods, and Old Navy, sees 4 million annual visitors.


Outback Steakhouse is a leading brand in casual dining, with over 1,300 locations across 20 countries. The Tenant is an operating subsidiary of Bloomin’ Brands, which owns concepts such as Carrabba’s, Bonefish Grill, and Fleming’s Steakhouse. In 2023, the Tenant demonstrated incredible performance at the Property, achieving revenues resulting in a 5% rent-to-sales ratio.


The Offering provides investors with the opportunity to acquire over 8 years of passive cash flow from an international retail tenant, with in-place renewal options, and a surrounding affluent community earning over $160K in average household income.

...

Attributs

Prix demandé
4 221 000 $
Taux de capitalisation
6 %
Superficie du bâtiment nette
635 mètres carrés
Occupation
100 %
Année de construction
2021
Superficie du terrain brute
635 mètres carrés
Durée restante du bail
7.6 années
RNI
254 000 $

Média

Points forts de l'investissement

  • Long-term, Absolute NNN Lease expiring in 2031 with zero landlord responsibilities and four (4), five-year extension options


  • Incredible site-level performance with 5% rent-to-sales ratio in 2023


  • Outparcel to the Montgomery Mal that sees 3.2+ million annual visitors. Across the street, the Airport Square Center sees over 4 million annual visitors


  • Over 159,000 residents in the five miles surrounding the Property earning an average household income of $161,500


  • Outback is owned by Bloomin’ Brands (NYSE: BLMN), which operates 1,400+ restaurants


  • Frontage along Bethlehem and Dekalb Pikes, which see +45,760 vehicles per day and hosts national tenants such as Best Buy, Marshal’s, Michael’s, HomeGoods, and Old Navy
Outback Steakhouse - North Wales, PA 4_Propriété à vendre
Outback Steakhouse - North Wales, PA 4_Propriété à vendre

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Outback Steakhouse - North Wales, PA (0 Propriétés)
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Dernière mise à jour
20 mai 2024