Overview

Description

RealtyLink is proud to offer to the marketplace this brand new single tenant net leased Japanese steakhouse in Whitestown IN. Developed in 2020 as a build-to-suit for a successful regional operator, this high sales volume restaurant is leased on a long term basis with built-in rental increases every 5 years including the renewal option periods. Strategically positioned as an outparcel to The Shoppes at Whitestown, a dominant 285,000 square foot regional power center, the property is ideally located just off I-65 approximately 18 miles northwest of downtown Indianapolis. The property also greatly benefits from a growing population base, affluent household demographics and high traffic counts.

The Shoppes at Whitestown

Highlights

• 20-year absolute triple net lease with rent bumps every 5 years and 2 renewal options of 5 years each
• High sales volume location with a Year 1 projected rent-to-sales ratio in the 6.25-6.75% range
• Experienced and well-capitalized operator with a total of 6 restaurants throughout the Midwest and growing
• High profile outparcel to the dominant 285,000 square foot power center in the regional trade area
• The Shoppes at Whitestown is anchored by Hobby Lobby, Burlington, Ashley, Ross, TJ Maxx and more
• Daily traffic counts of 23,750 on Whitestown Pkwy, the market's primary commercial corridor, and 82,300 on I-65
• Average household income over $134,000 in a 1-mile radius and population over 75,000 in a 7-mile radius
• Whitestown is the fastest growing city and Boone is the fastest growing county in the state of Indiana

Documents

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