North Richland Hills, 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 North Richland Hills, 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.

The subject property is located at the hard corner intersection of Davis Blvd and Standley St. which combine to average 44,000 VPD. The site benefits from nearby direct on/off ramp access to Interstate 820 and State Hwy 121 & 183 which average a combined 378,000 vehicles passing by daily. The Chicken Express is located
in close proximity to North East Mall (2,134,000 SF), that is anchored by Michael’s, Burlington, Old Navy, Macy’s, Dick’s, Petsmart, and more. Furthermore, the asset is ideally situated in a dense retail corridor, with numerous nearby national/credit tenants including Aldi, Chase, Dollar Tree, Harbor Freight, Davita, and many more. Additionally, Tarrant County College Northeast (12,000+ students) is nearby and increases consumer traffic to the immediate trade area. The 5-mile trade area is supported by a population of over 284,000 and 109,000 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 $111,111.