Fort Worth, TX - Bojangles

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, Bojangles investment property located in Fort Worth, Texas. The tenant, BTT Investment, LLC, recently signed a brand new 20-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual rental increases through year ten of the initial term and 2.5% annual increases through the end of 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 passive investor.

The Bojangles is located near the signalized, hard corner intersection of Heritage Trace Parkway and Interstate 35W, which combine to average 177,600 vehicles passing by daily. Interstate 35W is a major retail and commuter thoroughfare serving the city of Fort Worth and the surrounding areas. The Bojangles is a part of the Victory Shops at Heritage Trace, which includes tenants such as Outback Steakhouse, HotWorx, Buffalo Wild Wings, and CityVet as well as two hotels. In addition, the asset is located in close proximity to Alliance Town Center, a 1 million-square-foot retail center with national/credit tenants including DICK’S, Best Buy, Cinemark, Ulta, Olive Garden, and Chick-fil-A. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Costco, Target, At Home, In-N-Out, Raising Cane’s, Panda Express, Whataburger, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 277,000 residents and 64,300 employees with an average household income of $147,515.

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Listing ID: a28TP000003Ww5ZYAS