Phoenix, AZ - Bojangles

Description:

SRS Real Estate Partners-West, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Bojangles investment property located in Phoenix, Arizona. The tenant, LVP Restaurant Group, LLC recently signed a brand new 20-year lease with 2 (10-year) options to extend, demonstrating their commitment to the site. The tenant is a subsidiary of LV Petroleum, which operates over 80 travel center locations, 180 quick-service restaurants, and 30 convenience stores. The lease features 2% annual rental increases throughout the initial term and each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a investor. This location is currently under construction and is slated for an opening by early to mid November.

The property is located near the signalized, hard corner intersection of W Indian School Rd and N 99th Ave with a combined 43,000 vehicles passing by daily. West Indian School Rd, is a major retail thoroughfare serving the city of Phoenix. The Bojangles is located in a new commercial development that will be adding a significant amount of retail, helping draw consumer traffic to the trade area. Additionally, the asset is positioned north of Gateway Pavilions, a 549,000 square foot power center with national/credit tenant including Costco Wholesale, Harkins Theatres, Marshalls, Burlington, Ross Dress for Less, and more. Furthermore, the site is situated a few miles northwest of Desert Sky Mall, a 1,000,000 square foot super regional mall anchored by Dillard’s, Burlington, Mercado de los Cielos, and more. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, Lowe’s Home Improvement, Fry’s, Planet Fitness, Walgreens, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 370,200 with an affluent average

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Listing ID: a28TP000003QnOLYA0