Overview

Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, freestanding, drive-thru equipped, HTeaO investment property located in Colleyville, Texas (Dallas-Fort Worth MSA). The tenant, Double Tea II, LLC, recently signed a brand new 15 year lease with 3 (5-year) options to extend, demonstrating their long-term 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 in an income tax free state. HTeaO is a growing and popular beverage company with over 125 locations. The site features brand-new construction with state-of-the-art amenities and a modern design.

HTeaO is strategically located along Colleyville Blvd., a major retail and commuter thoroughfare averaging 32,900 vehicles passing by daily. The building is complete with a dual drive-thru, providing ease and convenience for customers. On average, stores with drive-thrus experience higher sales than those without. The property benefits from being near the major signalized intersection of Glade Road and Colleyville Boulevard (61,200 VPD). Located within a dense retail corridor, HTeaO is within close proximity to a variety of national/credit tenants including Walmart Neighborhood Market, Whole Foods Market, Sprouts Farmers Market, and Lowe’s. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. The property benefits from excellent visibility and access via multiple points of ingress/egress, significant street frontage, and a large monument sign. The 5-mile trade area is supported by more than 263,000 residents and 121,000 daytime employees with an affluent average household income of $138,245.

---