Golden Chick - McKinney, TX_Property for Sale

1001 W University Drive, McKinney, TX, 75071, US

Golden Chick - McKinney, TX

Asset description

Jones Lang LaSalleAmericas, Inc.(“JLL”) is pleased to offer the opportunity to acquire the fee-simple interest in a recently renovated, single-tenant Golden Chick located at 1001 W University Drive in McKinney, Texas (the “Property” or “Asset”).

The Asset is 100% leased to Three Saints LLC (the “Tenant”) operating as Golden Chick (the “Operator”) with a brand new 20-year absolute NNN lease, 1.5% annual rent increases, and four, five-year renewal options. The lease is corporately guaranteed by Golden Chick, one of the fastest growing restaurant brands in the U.S. with 210 locations and committed plans to open more than 500 locations by 2030.

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Attributes

Asking price

€1,690,000

Cap rate

5.65%

NOI

€96,000

WAULT

20 years

Building area net

156 sm

Land area gross

0.16 ha

Media

Investment highlights

Brand new 20-year absolute NNN lease with 1.5% annual rent escalations offers secure and growing long-term cash flow.
Corporate guaranty from Golden Chick, one of the fastest growing brands in the U.S. with 210 locations nationwide.
Extensive 2022 renovations including a new roof, new HVAC and FRP, walk-in freezer, kitchen floor, increased storage, and various external upgrades.
Situated along a premier retail corridor with high traffic counts of 31,500+ vehicles per day and access to over 122,000 residents within a 5-mile radius.
Fronting U.S. 380 proximate to Cameron Crossing Shopping Center which sees more than 2.2 million visitors annually.
42% population growth since 2010 offers lucrative investment prospects in a rapidly expanding market.