San Tan Valley, AZ - Jack in the Box

Description:

SRS Real Estate Partners-West, LLC is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN, drive-thru Jack in the Box investment property located in San Tan Valley, Arizona (Phoenix MSA). The tenant, DOP San Tan Valley, LLC, has 11-years remaining on its lease with 4 (5-year) options to extend. The lease features 10% 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 a passive investor. Jack in the Box is one of the most recognized quick-service restaurant brands in the United States, operating approximately 2,128 locations across 24 states, Guam, and Mexico from its headquarters in San Diego, California.

The subject property has excellent access and visibility along N. Gantzel Road (25,400 VPD) the dominant retail node in the San Tan Valley trade area. The site is located directly across from Vineyard Towne Center, a new 230,000 SF open-air center anchored by Target and Sprouts Farmers Market that draws 1.9 million annual visits (Placer.ai) and recently sold for $69.9 million. The site benefits from additional crossover traffic generated by Circle Cross Ranch, a Fry’s Marketplace-anchored center located just down Gantzel Road that draws 3 million annual visits (Placer.ai). The broader Gantzel Road corridor continues to attract new development, including Mountainside Fitness, the Bungalows on Combs luxury apartment community, Terrazo Medical Village, and Dutch Bros. The trade area represents an extremely active part of the Phoenix MSA for master-planned residential development, including Wales Ranch at Combs and Gantzel (Lennar, Ashton Woods, Starlight Homes, D.R. Horton, Century Communities), Soleo by Tri Pointe Homes (1,400+ homes currently under construction near Combs Road), and Harvest at Gantzel by Lennar, all of which is fueled by continued migration from the denser, higher-cost areas of the Phoenix metro. Moreover, LG Energy Solution’s $5.5 billion EV battery manufacturing complex in nearby Queen Creek is under construction, with thousands of new jobs expected in the immediate area. The 5-mile trade area is supported by a population of over 167,000 residents and 15,700 employees with average household incomes of $156,447 / $158,012 / $155,128 within 1, 3, and 5-miles, respectively.

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Listing ID: a28TP000003JNLlYAO