Property Description:
Solid Investments is pleased
to present a corporate absolute NNN Taco Bell/Pizza Hut Ground
Lease located in Pembroke Pines (Ft. Lauderdale), FL. Taco
Bell has been at this location for over 21 years and there
are 3.7± yrs remaining on the Lease. Taco Bell recently
exercised their first 5-year option in May 2009 and there
is 1 x 5 year option remaining. Very strong store sales, well
above the national average - 3.7%
Rent to Sales ratio.
The center is anchored by Lowe’s with additional tenants
CVS, TGI Friday’sl, Pollo Tropical, Red Lobster, Goodyear
Tires, and Quizno’s. Immediately behind the subject
property is a Publix, Marshalls, LA Fitness shopping center.
Within a 1-mile radius the
2010 population is 20,772 and 429,828 within 5-miles
with an average household income over $65,000. Broward College
(15,000+ students) is located 1-mile from the site.
Location:
The intersection of University Drive
and Pines Blvd averages over 100,000 cars per day with 54,000
cars traveling east/west along Pines Blvd (Hollywood) and
51,000 cars traveling north/south along University Drive.
Pembroke Pines is a rapidly expanding city
in Broward County just north of the city of Miami. According
to 2006 U.S. Census Bureau estimates, the city has a population
of 150,064, making it the second most populous city in Broward
County, the eleventh most populous in Florida, and the 157th
most populous in the United States. Its official motto is
"Join Us and Progress with Us". Pembroke Pines has
been named one of the best cities to live in America.
Pembroke Pines won the National Civic League's coveted "All-America
City Award" in 2004 and was a finalist community in 2003.
Pembroke Pines also received an "outstanding achievement
award" in the "2005 City Livability Awards"
Program, sponsored by the U.S. Conference of Mayors. Many
of Pembroke Pines schools have received the "Five Star
School Award" from the Florida Department of Education
as schools that have shown evidence of exemplary community
involvement.
About the Tenant:
Yum! Brands, Inc (NYSE: YUM) (Investment
Grade S&P Rated: BBB- & Moody's Rated: Baa3)
Taco Bell corp., (“TBC”), based in Irvine, CA,
is a subsidiary of YUM! Brands, Inc., (YUM!) and is the nation’s
leading Mexican-style quick service restaurant chain. Taco
Bell has over 5,800 restaurants, including about 240 locations
outside the UA. More than 20% of the restaurants are company-operated,
while the rest are franchised or licensed. With over 175,000
employees, Taco Bell serves more than 36.8 million consumers
each week and sells over 4.5 million tacos each day. additionally,
half of the u.s. population sees a Taco Bell commercial at
least once a week, generating significant brand recognition.
Yum! Brands, Inc. or Yum! is a Fortune 500
corporation. Yum! operates or licenses Taco
Bell, KFC, Pizza Hut, Wingstreet, and Long John Silver's
restaurants worldwide, and A&W Restaurants (excluding
A&W in Canada). Based in Louisville, Kentucky, it is the
world's largest fast food restaurant company in terms of system
units—over 36,000 restaurants
around the world in more than 110 countries and territories.
In 2008, Yum!'s global sales totaled more than US $11 billion.
Taco Bell remains to be a key component of
YUM!’s U.S. performance, contributing about 55% of operating
profits domestically. According to YUM!, Taco Bell is the
second most profitable fast food concept in the U.S. behind
McDonald’s. YUM! management strongly believes that Taco
Bell has the systems in place to continue on its growth path
in the future.
- Corporate Taco Bell/Pizza
Hut -YUM! Brands- ±3.7 years remaining on Lease
- Phenomenal Store Sales
- 3.7% Rent to Sales
- Yum! Brands is world's largest
restaurant company w/over 33,000 restaurants
- Investment Grade Tenant
- S&P Rated BBB-
- Zero Landlord Obligations
- Florida - No State
Income Tax
- Outparcel to Lowe's
Shopping Center & Next to Publix
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