Delaware OH - Bojangles

Description:

New 16-Year Lease | Options To Extend | 10% Rent Increases.
The tenant recently signed a brand-new 16-year lease commencing in October 2025, featuring 3 additional 5-year renewal options, demonstrating long-term commitment to the site.
Scheduled 10% rent increases in years 7, 12 and each renewal options enhance long-term NOI growth and provide a built-in hedge against inflation.

2025 Construction | Absolute NNN Lease.
Constructed in 2025 with modern design, materials, and systems, the property offers contemporary aesthetics and operational efficiency consistent with today’s retail development standards.
The lease is structured as an Absolute NNN lease, with the tenant responsible for CAM, taxes, insurance, and all maintenance of the premises.
This zero-responsibility structure makes the asset an ideal, management-free investment for out-of-state or passive investors.

Strong National Brand & Franchisee Operator.
Bojangles was founded in 1977 and has since expanded to ~800 locations in 17 states.
The franchisee operator, BOJ of WNC LLC, owns and operates 125 restaurants in Ohio, North Carolina, South Carolina, Tennessee, Georgia and Kentucky, and is the largest franchisee in the system.
The Lease is guaranteed by all 120+ units.
Sales at all of BOJ of WNC’s Ohio stores are up double digit % year over year.
BOJ of WNC has shared that the stores in Ohio have the highest sales in their entire portfolio
Ranked #31 on QSR Magazine’s 2025 release of its top 50 restaurants based on US system-wide sales, and #7 in the Chicken category.

Strategic Positioning Across Street from Walmart Supercenter & Kroger | Excellent Frontage, Visibility & Access | Strong Traffic on Highway 23 | Proximity to Local Car Dealerships.
Located across the street from a Walmart Supercenter and Kroger anchored shopping center.
Outstanding visibility and access in one of Delaware’s most heavily trafficked retail corridors.
36,135 cars pass the site on Highway 23 (Columbus Pike) each day on average (VPD).
Highway 23 is a major north-south throughfare connecting Delaware directly to Downtown Columbus (25 miles south).
Surrounded by several local car dealerships (Chesrown Chevrolet, Byers Toyota, Byers Ford, etc) providing a steady customer base keeping Bojangles top-of-mind.
Busy retail corridor with top performing tenants per Placer.ai, including: Sheetz - Top 98% Nationwide |Chipotle - Top 76% Nationwide |Kroger - Top 74th Nationwide |Anytime Fitness - Top 69% Nationwide

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Listing ID: a28TP000003PqUjYAK