Lansing, MI - Red Robin

Description:

• The tenant is performing extremely well at the location, operating at a sub 4.5% rent-to-sales ratio
• The tenant Ansara Restaurant Group (20+ locations), has approximately 3.5 years remaining on its lease with 3 (5-year) options to extend
• The lease features 10% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation
• The franchisee operates over 20 Red Robin locations, as well as 9 locations across Twin Peaks, Portofino, Burgrz, and 2Booli

• The subject property is an outparcel to an 87,000+ square foot Kohl’s and a 75,000+ square foot Kroger grocery store
• The asset is located within walking distance to one of the largest shopping areas in Lansing, featuring Meijer, ALDI, Target, Best Buy, and more
• Also walking distance to Lansing Mall which is anchored by JCPenney, Regal, Best Buy, Zap Zone XL, and Best Furniture Outlet
• Strong tenant synergy promotes crossover shopping to the subject property