Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in the Taco Bell located at 5070 West Atlantic Avenue in Delray Beach, FL (the “Property” or “Asset”). Taco Bell of America LLC is a subsidiary of the world’s largest restaurant company, Yum! Brands, Inc. (NYSE: YUM) that has over 50,000 restaurants in over 150 countries. The lease currently has 16-years of term remaining with 9.7% rental increases every 5-years and, is subject to 15.0% rent increases across the four 5-year renewal options.
Located on a major retail corridor in Delray Beach, the Property benefits from the ease of access to both Interstate-95 and Florida’s Turnpike. The Property is an outlot to the recently redeveloped and rebranded Delray Landing shopping center, which features a brand-new Sprouts Farmers Market. The Property is also adjacent to the Delray Square Shopping Center, a highly trafficked shopping center in the region with over 1.5 million visitors annually and 9+ retailers, including a Publix Supermarket that is ranked in the 84th Percentile of all Publix stores in the nation (per Placer.ai).
The Property benefits from the 18% population growth that has occurred in the past decade within a five-mile radius. The Asset is located in west side of Delray near legacy at Sherwood Park Golf Course. The Property is within a residential and retail trade area along Atlantic Avenue and South Military Trail with direct exposure to over 90,000 vehicles per day. It is less than twenty-miles from the Palm Beach International Airport; Florida Atlantic University, an 850-acre academic campus with over 30,000 students enrolled annually.
Experienced operator and parent company (S&P: Yum)
16 Years of lease remaining
Ground lease - no landlord responsibilities
9.7% rent bumps every 5 years of base term
Over 226,000 residents within a 5-mile radius
Strong population growth of 18.4% within a 5-mile radius
Situated along Atlantic Ave & S Military Trail which is exposed to over 90,000 VPD
Less than 20-miles from Palm Beach International Airport & Florida Atlantic University