US - Lubbock, TX
IDR 150,956,121,000 | 6,548 m²
Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in the Burger King located in Oxford, NC (the “Property” or “Asset”). The lease is guaranteed by Cambridge Franchise Holdings, LLC, a subsidiary of Carrols Restaurant Group with 200+ units. Carrols Restaurant Group (NASDAQ: TAST), is one of the largest restaurant companies in the US and largest Burger King Franchisee globally. The lease currently has 13.5-years of term remaining, subject to a 1.50% annual rent increases with four 5-year renewal options.
Founded in 1953, Burger King® is the second largest fast food hamburger chain in the world and attracts over 11 million guests annually. Owned by Restaurant Brands International Inc. (NYSE:QSR), Burger King® operates 19,310+ stores across all 50 U.S. states and 100+ other countries.
The Asset is ideally situated just off interstate 85 at the hard corner of M.L.K Jr. Ave and Industry Drive. The surrounding area includes numerous national retailers such as Walmart, Walgreens, AutoZone, CVS, Bojangles, Family Dollar, McDonalds KFC, Pizza Hut and more. Oxford, NC is part of the Raleigh-Durham MSA, one of the fastest growing cities in the united states. According to the American Growth Project, the MSA is ranked fourth among the fastest growing cities in the country.