Dallas, TX - Chick-fil-A

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN, freestanding, drive-thru equipped, Chick-fil-A investment property located in Dallas, Texas. The tenant, Chick-fil-A, Inc., recently signed a brand new 15 year lease with 10 (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. Chick-fil-A serves freshly prepared food in more than 3,000 restaurants in 50 states, Washington, D.C., and Canada. The subject property was actually the 3,000 location for the brand and in Nov. 2023 they celebrated the milestone with a ribbon cutting ceremony that was well attended and also included Chick-fil-a’s CEO Andrew Cathy.

The Chick-fil-A is located near the signalized, hard corner intersection of S Westmoreland Rd and W Camp Wisdom Rd with a combined 42,100 VPD. W Camp Wisdom Rd is a major retail thoroughfare serving the city of Dallas. The Chick-fil-A is an outparcel to The Shops at RedBird that also features national/credit tenants including Burlington, Hibbett Sports, Champs Sports, and UT Southwestern Medical Center. Additionally, Chick-fil-A is an outparcel to the Shops at Redbird, a 720,000 SF shopping center undergoing a massive redevelopment. The new vision for the shopping center seeks to create a mixed-use destination with multifamily, hotel, entertainment, and retail components. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Starbucks, Whataburger, Planet Fitness, Firestone, 7-Eleven, and many more, further increasing consumer traffic to the site. The subject property is within walking distance to Palladium RedBird, a newly-developed apartment complex. The 5-mile trade area is supported by a population of over 253,000 with an average household income of $72,116.