Gresham, OR - Raising Cane's

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, corporate guaranteed, Raising Cane’s investment property located in Gresham, Oregon. The tenant, Raising Cane’s Restauarnts, LLC recently signed a brand new 15-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features varying rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for an out of state investor. The property features brand new construction with a modern design and state-of-the-art amenities.

The Raising Cane’s is located near the signalized, hard corner intersection of NE Burnside Rd and N Main Ave with a combined 43,300 vehicles passing by daily. NE Burnside Rd (36,600 VPD), is a major retail thoroughfare serving the city of Gresham. Additionally, the property is located just northeast of Gresham Station, a 298,000 square foot power center that features national/credit tenants including Burlington, World Market, Old Navy, Best Buy, and more. Furthermore, the asset is positioned less than a mile north of Gresham Town Fair, a 264,000 square foot shopping center anchored by Dick’s Sporting Goods, Ross Dress for Less, PetSmart, and more. Moreover, the property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Neighborhood Market, Lowe’s Home Improvement, The Home Depot, Safeway, Trader Joe’s, Kohl’s, Albertsons, FredMeyer, and more, further increasing consumer traffic to the site. The subject property is adjacent to Gresham High School (1,700 students), which helps drive significant consumer traffic to the site. The 5-mile trade area is supported by a population of over 231,400 with an affluent average household income of $102,842.

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Listing ID: a28TP000003EK0LYAW