Pizza Hut - Parker, CO SLB_Property for Sale

10535 S Parker Rd, Parker, CO, 80134, US

Pizza Hut - Parker, CO SLB

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee-simple interest in a 4,190 square foot freestanding, single-tenant Pizza Hut located at 10535 S Parker Road in Parker, Colorado (“Property” or “Asset”). GMRG ACQ1, LLC (“Tenant”) will enter a 15.0-year, absolute NNN lease at the transaction’s closing with 1.50% annual rent escalations and four, 5-year extensions.

The Asset is guaranteed by Grand Mere Restaurant Group (“Guarantor”). Grand Mere is a leading Pizza Hut franchisee with 140 stores and 3,000+ employees that achieve more than $130 million in revenue.

Pizza Hut is currently undergoing a $200,000 renovation, with an additional $60,000 in CAPEX investment over the previous two years.

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Attributes

Asking price

₹115,488,000

Cap rate

6.75%

NOI

₹7,796,000

WAULT

15 years

Building area net

389 m²

Lease type

Absolute Triple Net

Media

Investment Highlights

Pizza Hut will enter a 15.0-year absolute NNN lease upon transaction closing
Experienced franchisee with 140 locations and 3,000+ employees
Undergoing $200,000 renovation
Positioned in a dense retail corridor with direct visibility to more than 50,500 VPD
Nearby Parker Pavilions shopping center that ranks in the top 4% of most visited shopping centers in CO and across the nation (Placer.ai)
Fast-growing residential market expected to increase population by 27%
Just 20 miles southeast of downtown Denver, one of the country’s most sought-after markets