Covington, LA - Texas Roadhouse

Description:

• The tenant currently has 10 years remaining on their initial lease with 2 (5-year) options to extend, demonstrating their commitment to the site
• The lease features a 5% increase in Nov. of 2030 and 10% increases at the beginning of each option, growing NOI and hedging against inflation
• Texas Roadhouse, Inc. is a growing restaurant company operating predominantly in the casual dining segment that first opened in 1993 and today has grown to over 800 restaurants system-wide in 49 states

• The asset is an outparcel to Nord Du Lac, a 215,000+ SF regional center, that is anchored by Academy, Costco, Hobby Lobby, Petco, and more
• Costco (opened Aug 2024) and Floor & Decor (opened Jan 2025) reinforce Nord Du Lac’s position as the dominant regional retail node, driving increased customer flow and cross-shopping within the center
• The site is ideally situated in a dense retail corridor, with numerous nearby national/credit tenants including Target, Marshall’s, Michael’s, Sam’s Club, CVS, Ross, Starbucks and many more
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site
• The asset is located at the signalized, hard corner intersection of Pinnacle Pkwy which is a major retail road
• The site is directly off of Interstate 12, a major thoroughfare that averages 80,500 vehicles passing by daily
• The site benefits from excellent visibility via significant street frontage and multiple points of ingress/egress

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Listing ID: a28TP000001nNNtYAM