Lucky's Market - Tallahassee, FL
US - Tallahassee, FL
HK$91,903,000 | 54,674 sf
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 Spring, TX (the “Property” or “Asset”). Salad and Go operates on a new 20-year ground lease featuring zero landlord responsibilities and 10% rent increases every 5-years throughout the primary and renewal option periods. Salad and Go operates 53+ restaurants throughout Arizona and Texas with headquarters in Phoenix, AZ. The fast-growing retail chain plans to add 35 restaurants in 2022 and 2023 throughout Arizona, Texas, Oklahoma and Nevada, representing a 77% increase.
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Attributes
Asking Price
HK$17,012,000
Building area Gross
950 sf
Occupancy
100.00%
Year built
2023
Cap Rate
5.75%
NOI
HK$978,000
Media
Investment Highlights
Dynamic Houston MSA
- Over the last 10 years, Houston has been one of the fastest growing cities in the country in terms of economic and population growth
Expansive Regional Tenancy
- Salad and Go currently operates 53 locations with rapid expansion plans led by ex-CEO of WingStop, Charlie Morrison
Dense and Affluent Surrounding Submarket
- Located in an affluent area of Houston with 249,785 residents and AHHI of $120,069
Favorable Net Lease Structure
- Features a full 20-years of lease term remaining with absolutely zero landlord responsibilities
Contact brokers
Salad and Go - Spring, TX (0 Properties)
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Last updated
22 Jun 2023
