Lake Worth, 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 Lake Worth, 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. Additional adjacent land parcel included in offering.

The subject property is located along Lake Worth Blvd, which averages 42,900 vehicles passing by daily and is the major retail thoroughfare serving the city of Lake Worth. The site benefits from nearby direct on/off ramp access to Interstate 820 which averages 127,300 vehicles passing by daily. The Chicken Express is located in close proximity to Lake Worth Towne Crossing (431,000 SF), that is anchored by Target, Hobby Lobby, Michaels, and more. Additionally, the property is positioned just west of Lake Worth Marketplace, a 219,000 square foot shopping center that is anchored by Kohl’s, Marshalls, and Burlington. Furthermore, the asset is ideally situated in a dense retail corridor, with numerous nearby national/credit tenants including a Walmart Supercenter, The Home Depot, Lowe’s Home Improvement, Albertson’s, Big Lots, and many more. The 5-mile trade area is supported by a population of over 155,700 and 46,400 daytime employees, providing a direct consumer base from which to draw. Residents within a 5-mile radius of the subject property boast an affluent average household income of $101,641.