Pennington Gap, VA - Pizza Hut

Description:

• The tenant, Tasty Hut, LLC, has entered into a brand new 17 year lease with 4 (5-year) options to extend, demonstrating their commitment to the site
• Tasty Restaurant Group, LLC is an experienced QSR franchisee with over 450 restaurants strong across 23 states operating under six iconic brands: Pizza Hut, Burger King, Dunkin’, Baskin-Robbins, Kentucky Fried Chicken and Taco Bell brands
• The lease features annual rental increases of 1.50% throughout initial term and option periods, generating NOI and hedging against inflation

• The subject property is located at the signalized, hard corner intersection of E Morgan Ave and U.S. Hwy 421 which combined average 16,300 VPD
• Nearby national/credit tenants include Food City, O’Reilly Auto Parts, Dollar Tree, Family Dollar, Taco Bell, and many more
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site
• The site has excellent visibility via significant street frontage and a large pylon sign with multiple points of ingress/egress
• Furthermore, the asset is in close proximity to Pennington Middle School (287 students) and Lee County Community Hospital (12 beds), further increasing consumer traffic to the immediate trade area