Rowlett, TX - Chicken Express

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN Sale-Leaseback, freestanding, Chicken Express investment property located in Rowlett, Texas. The tenant, Chicken Express, will enter into a brand new 15 year lease at COE with 3
(5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of 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. Chicken Express, Distribution (CEFS), is headquartered in Burleson, Texas and has over 250 locations in Texas, Arkansas, Louisiana and Oklahoma.

The subject property is located near the signalized, hard corner intersection of Rowlett Rd. and State Hwy 66 which combined to average over 69,000 VPD. The site benefits from nearby direct on/off ramp access to President George Bush Turnpike, which averages over 26,000 vehicles passing by daily. The asset is ideally situated in a dense retail corridor, with numerous nearby national/credit tenants including Sprouts, Walmart Supercenter, Home Depot, Big Lots, Target, Petsmart, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. Furthermore, the site is in close proximity to Rowlett High School (2,392 students) and Coyle Middle School (928 students), further increasing consumer traffic to the immediate trade area. The 5-mile trade area is supported by a population of over 222,000 residents and 49,000 daytime employees, providing a direct consumer base from which to draw. Residents within a 3-mile radius of the subject property boast an affluent average household income of $131,259.