Hurst, TX - Salad and Go

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN, corporate guaranteed, drive-thru equipped, Salad and Go investment property located in Hurst, Texas (DFW MSA). The tenant, And Go Concepts, LLC, recently signed a brand new 20-year lease 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, 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. The newly-constructed building features a state-of-the-art design and high-quality materials. Salad and Go was founded in 2013 in Gilbert, Arizona. The company currently operates nearly 103 locations in the Western United States and is continuing to expand.

The Salad and Go is located near the signalized, hard corner intersection of Precinct Line Rd and Grapevine Hwy with a combined (72,900 VPD). The building is equipped with a double drive-thru, providing ease and convenience for customers. On average, stores with drive-thrus experience higher sales than those without. The property is positioned as an outparcel to Lowe’s Home Improvement, which helps draw consumers into the local trade area. Additionally, the asset is located less than 2 miles northeast of North East Mall, a 751,000 square foot shopping mall with major tenants including Dillard’s, Dick’s Sporting Goods, Macy’s, Cinemark, and more. Furthermore, the site is within close proximity to multiple national/credit tenants including a Walmart Supercenter, The Home Depot, Target, T.J. Maxx, Sprouts, Albertsons, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover tenant exposure to the site. The
5-mile trade area is supported by over 278,800 residents and 105,700 employees, providing a direct consumer base from which to draw. Residents within a 1-mile radius of the subject property boast an affluent average household income of $130,672.