Overview

Description

• New absolute NNN ground lease with 10% rent escalations every 5 years
• 10 year primary lease term with a 10% rent bumps in year 5 and four, five-year options
• The lease is guaranteed by Cheddar’s Casual Cafe c/o Darden Restaurants
• Zero landlord responsibilites in the lease

• Subject property is shadow anchored by a Walmart Supercenter
• Property is located 5 minutes from retail corridor containing Lowes, Home Depot, Tractor Supply, Food City, Sonic and more
• Morristown is growing rapidly, gaining 500 new jobs every year for the past 5 years
• Dense retail corridor with tenants Panda Express, Starbucks, Wingstop, Texas Roadhouse, Ingles Market, Wendy’s, Aldi, Chili’s, Firehouse Subs, O’Charleys, Golden Corral, Dutch Bros and more
• Located directly off U.S Hwy 11E with daily vehicle counts exceeding 36,300
• Strong tenant synergy promotes crossover shopping to the subject property
• One mile from Morristown Regional Airport

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