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 Owasso, OK (the “Property” or “Asset”). Salad and Go is currently operating on a 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 45+ 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.
The Asset is located 15 miles north of Tulsa, directly across the street from Walmart Supercenter and Owasso Market, which are ranked in the 81st and 96th percentile of Walmart Supercenters and shopping centers in the nation, respectively, by annual visits (per Placer.ai). Situated along East 96th Street North and North Garnett Road, the Property is in the heart of the main retail corridor and is exposed to over 41,000 vehicles per day. The Property is also surrounded by outstanding local demographics of 32% population growth within a 1-mile radius of the Property and an average household income of $105,000 within a 5-mile radius of the Property. The Property is near Ascension St. John, a 40-bed hospital system that received a 5-Star patient satisfaction award in overall hospital rating, which is in the top 10% nationally (Centers for Medicare & Medicaid Services).
- Best-in-class tenancy with consistent growth
- 20+ years of remaining lease term with 10% rent bumps every 5 years
- Ground lease with zero landlord responsibilities
- Owasso, a suburb of the Tulsa MSA, with 32% population growth in a one-mile radius
- Average household income of over $105,000 within a five-mile radius of the Asset
- Situated on N Garnett Rd and E 9th St N with direct exposure to 41,000 VPD
- Adjacent to a Walmart in the 81st percentile in the nation for visits annually, per Placer.ai