Fall River, MA - Raising Cane's

Description:

• The tenant, Raising Cane’s, recently signed a brand new 15-year lease with 5 (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, generating NOI and providing a hedge against inflation
• Signed by the corporate entity, Raising Cane’s Restaurants, LLC
• Founded in 1996, Raising Cane’s is a well-known and established QSR chicken brand with more than 700 restaurants around the world and several new restaurants in development
• The brand has experienced 62 straight quarters of positive same-store sales, and AUV has more than doubled since 2015

• Raising Cane’s is strategically located at the signalized, four-way intersection of William S Canning Blvd and Newton St averaging 23,200 VPD
• Across from SouthCoast Marketplace, anchored by Market Basket, a community shopping center that ranks in the top 97% of all community shopping centers nationwide according to Placer.ai
• SouthCoast Marketplace features 300,000+ SF of retail space with several national tenants such as Five Below, T.J. Maxx, Staples, Crunch Fitness, and more
• Equipped with a double drive-thru, maximizing productivity and efficiency; on average, stores with drive-thrus experience higher sales volume