Buffalo Wild Wings - Austin, TX

13000 N Interstate Hwy 35, Austin, TX, 78753, US

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple interest in the Buffalo Wild Wings (“BWW”) located at 13000 North I-35 in Austin, Texas (“Property” or “Asset”). BWW is operating on an absolute NNN lease with zero landlord responsibilities, ±7.9 years of primary lease term remaining, 1.50% annual rent escalations in the primary term and 10.0% escalations every 5-years in the two, five-year renewal options.

Located in the rapidly developing Austin Tech Ridge Corridor in northeast Austin, Buffalo Wild Wings is at the dominant intersection of I-35 and Parmer Lane with visibility to over 200,000 vehicles per day. The area is a hub for companies like Dell, General Motors, Apple, and 3M, and includes areas like The Business Center at TechRidge and Tech Ridge Collection.

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Attributes

Asking price

PLN 15,037,000

Cap rate

6.75%

NOI

PLN 1,015,000

WAULT

7.9 years

Building area net

580 m²

Land area gross

0.49 ha

Media

Investment Highlights

Operating on an absolute NNN lease with ±7.9 years of primary lease term remaining and 1.50% annual escalations
Outparcel to Shops at Tech Ridge shopping center with 3.6 million visits annually
Buffalo Wild Wings is the largest sports bar brand with average unit volume of $3.3 million
Strong demand characteristics driven by 1-mile AHHI of $113K
Adjacent to 425-acre EastVillage master-planned community
Dense commercial corridor with direct visibility to 200,000 VPD