Tallahassee, FL - Red Owl Coffee Company

Description:

• Red Owl has 7 years remaining on their lease with 1 (8-year) and 2 (5-year) options to extend
• The lease features 2.50% annual rental increases during the initial term and at the beginning of each option
• Franchisee signed lease by a 6 unit operator

• The asset is located directly across from The Shops at Bannerman Village, a Publix-anchored shopping center that has supporting tenants such as Heartland Dental, Tijuana Flats, Starbucks, and more
• There are ~1,000 new residential developments on the neighboring parcel and in the 1-mile trade area that will provide a direct consumer base from which to draw
• Other developments along the Bannerman Rd corridor include Bradbury at Bannerman Village, a 256-unit development across 14-acres