The Backyard – Gilbert (Phoenix Msa), Az

Highlights:

• LONG -TERM LEASE - 10 years remaining on lease with attractive 10% rental escalations every 5 years with two 5-year options to renew
• OPERATOR/SUBSTANTIAL REMODEL - Operator has strategically placed 6 distinct brands with 13 locations in Arizona & Texas with 4 additional restaurants opening (2 in Arizona, 1 in Tennessee & 1 in Nevada). Tenant just completed and paid for a full remodel (over $1 million) to rebrand of the restaurant - reaffirming their commitment to this location!
• TROPY LOCATION/HIGH BARRIERS TO ENTRY - Well positioned on the hard corner/signalized intersection directly across the street from Santan Village (1,196,000 sf. ft. lifestyle center) hub for retail activity for Gilbert, Queen Creek & Pinal County trade areas
• HIGH TRAFFIC COUNTS/VISIBILITY - Pad site to At Home/Trader Joe’s Anchored Shopping Center - situated on a large ±1.615-acre parcel on the SWC of E Williams Field Rd & S Santan Village Pkwy where traffic counts exceed 58,500 CPD!
• 2023 VERY AFFLUENT DEMOGRAPHICS: Total Population (5-MI): 295,883 | Average Household Income (1-MI): $168,121

Description:

Backyard has 10 years remaining on NN lease with attractive 10% rental escalations every 5 years with two 5-year options to renew. Operator has strategically placed 6 distinct brands with 13 locations in Arizona & Texas with 4 additional restaurants opening (2 in Arizona, 1 in Tennessee & 1 in Nevada). Tenant just completed and paid for a full remodel (over $1 million) to rebrand of the restaurant - reaffirming their commitment to this location! It is Well positioned on the hard corner/signalized intersection directly across the street from Santan Village (1,196,000 sf. ft. lifestyle center) hub for retail activity for Gilbert, Queen Creek & Pinal County trade areas.

The Asset is Pad site to At Home/Trader Joe’s Anchored Shopping Center - situated on a large ±1.615-acre parcel on the SWC of E Williams Field Rd & S Santan Village Pkwy where traffic counts exceed 58,500 CPD! Pad site to At Home Anchored Shopping Center with tenants such as Ashley Store, Trader Joe’s, Natural Grocers, Urban Air Trampoline & Adventure Park; across the street from Walmart, Sam’s Club, Old Navy, Marshalls, Kirkland’s Home, Ulta Beauty, DSW, Big Lots; near Costco, WinCo Foods, Kohl’s, Sprouts Farmers Market, Dollar Tree, Macy’s, Dillard’s, Dick’s Sporting Goods, Banana Republic, Best Buy, Barnes & Noble, Total Wine & More, and Harkins Theatres. 4 miles from Arizona State University (ASU) Polytechnic Campus - a nexus for studies in interdisciplinary sciences, engineering, management, technology & education with 6,036 students (Fall 2023); 131/2 miles from Mesa Community College - a public community college & is the largest of the 10 community colleges in the Maricopa County Community College District with 16,624 total enrollment (Fall 2023) - Gilbert is an educated community with 45% of residents holding a Bachelor’s Degree or higher out of nearly 279,000 residents (vs 36% nationally); 9 miles east of the subject property - a one-of-a-kind, 320-acre world class family sports & entertainment park featuring a 3,000 seat outdoor stadium, indoor arena, soccer/football fields, baseball/softball fields, indoor volleyball courts, basketball courts, pickleball courts & much more. The facility surpassed more than 4.3 million visitors in 2022.

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