Objektbeschreibung
Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in Chick-fil-A located on an outparcel of Fleet Farm located at 3200 4th St SW in Mason City, Iowa. The single tenant ground lease asset is 100% leased to Chick-fil-A corporate. The 5,109 SF building was constructed in 2024 and sits on 1.72 acres of land. Chick-fil-A signed a 15-year ground lease, which leaves no responsibilities for the landlord and features 10% rent escalations every five years through the option periods.
Chick-fil-A is the one of the fastest growing fast food chains in the country and is considered the gold standard for quick service retail. With 3,000+ locations across 48 states and growing, Chick-fil-A is quickly expanding its footprint and solidifying its reputation as the most sought after fast food tenant in the country. As the only Chick-fil-a store within a 90-mile radius, the property will serve as the only Chick-fil-a store in the Mason City market and will also serve the dozens of nearby rural communities.
Ideally situated just off of US-18 BUS, known as 4th St in the area, the property is highly visible from the arterial roadway. 4th St is the primary east-west thoroughfare in the city and connects the city to I-35. The property is an outlot to Fleet Farm and is adjacent to Target. Other traffic drivers in the immediate area include Aldi, Menards, Hy-Vee, and Walmart. The city of Mason City is a vibrant rural community and serves as the hub of commerce for the 50,000+ residents in the Mason City metro area.
Please see OM for more information.
Eigenschaften
Medien
Investment-Highlights
NEW CONSTRUCTION 15-YEAR GROUND LEASE
• The land is leased to the tenant for a 15-year term and the building is new construction
• The property will feature a double lane drive-thru and Chick-fil-A's detailed landscaping structures
BELOW MARKET RENT AND 10% ESCALATIONS EVERY 5 YEARS
• The Mason City site carries a lower rental rate than many of the other comparable Midwest and national Chick-fil-A sites
• Chick-fil-A’s NNN ground lease includes 10% rent escalations and leaves no responsibilities for the landlord
HIGH VISIBILITY AND HIGHWAY ACCESS
• 4th Street serves as the main thoroughfare for the city, connecting it to I-35 and Clear Lake to the west and the Avenue of the Saints to the south
• 4th Street provides not only visibility from the busiest street in the market but also access to some of the largest center of commerce in the city such as Mercy Medical Center, the Mason City Arena, and North Iowa Area Community College
RETAIL AND GROCERY ANCHORED DEVELOPMENT
• The property is located within the primary commercial corridor for the city, with adjacent grocery anchors including Target, Walmart, Aldi, and Hy-Vee
• Aside from grocery traffic, other drivers near the site include Fleet Farm, Menards, TJ Maxx, and the North Iowa Fairgrounds
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