Raising Cane's - Biloxi, MS

JLL is pleased to offer the opportunity to acquire a ground lease located at 2590 Beach Blvd in Biloxi, MS, adjacent to Edgewater Mall. The asset generates total annual base rent of $192,456 and features a remaining lease term of 1.8 years with Raising Cane's as the tenant, a rapidly growing fast-food chain specializing in premium chicken finger meals with nearly 900 locations worldwide generating $5 billion in annual sales and recognized as the third-largest chicken chain by sales in the U.S., ranking among the fastest-growing restaurant chains in its category.

The asset is strategically positioned on an outparcel to Edgewater Mall and a Walmart Supercenter along Beach Boulevard, a highly trafficked retail thoroughfare with traffic counts exceeding 30,000 vehicles per day. The property benefits from outstanding surrounding demographics in the Biloxi MSA, with over 416,000 residents and an average household income exceeding $87,000 within a five-mile radius. There are no rental increases for the remainder of the initial lease term. The asset features four 5-year renewal options with 10% increases per option period, providing consistent cash flow growth. This investment presents the opportunity to acquire a stabilized, income-producing asset anchored by a creditworthy national tenant with excellent real estate fundamentals in a high-growth suburb of the Mississippi Gulf Coast.