|Status:||SOLD - 7/11/11|
|Building Size:||2,924± SF|
|Years Remaining on Lease:||14± Years|
|Options:||2 x 5 Year|
|Rent Commencement:||July 2004|
|Lease Expiration:||July 2024|
|Net Lease Investment:||Absolute NNN Ground Lease|
Solid Investments is pleased to present an Absolute NNN Corporate Taco Bell / Long John Silver's ground lease located in Plant City (Tampa), FL priced at $733,000 / 6.0% CAP. There are approximately 14± years remaining on a 20 year Lease with 10% rent increases every 5 years and 2 x 5 options to renew.
This is a rare, low price point corporate opportunity with a good amount of time remaining on the primary term of the Lease (14 years). Attached is a flyer for the anchor center (Walden Woods)
The Property is an out-parcel to the Walden Woods Center, a 79,684 SF shopping center located at the main intersection of Alexander St. and James Redman Parkway. The center is anchored by Aaron Rents, Dollar Tree, Hibbert Sports & Dollar General. The shopping center is shadow-anchored by a Super Wal-Mart Supercenter to the South and a newly redeveloped Publix to the North and a Lowe's Home Improvement to the East. Other retailers in the immediate area include Bank of America, CVS, GNC, McDonald's, KFC, Anytime Fitness, Sweetbay, Arby's, FedEx, Wendy's & more.
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.
|2010 Demographics||1 Mile||3 Mile||5Mile|
|Avg Household Income||$62,886||$62,079||$58,140|