Property Description:
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)
Location:
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.
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/Long
John Silver's-YUM! Brands- ±14 years remaining
on Lease
- 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
- Located next to a Super
Wal-Mar, Lowe's, Publix Shopping Center
|
