Pensacola, FL - Outback Steakhouse

Description:

• Outback recently signed a brand new 10 year lease with 4 (5-year) options
• The lease features a 10% rental increase in Year 6 and every 5 years throughout the option periods, increasing NOI and hedging against inflation
• There are 678 Outback Steakhouse locations in the US as of August 14, 2024

• Within 2 miles of Cordova Mall with major tenants including Best Buy, Bath & Body Works, Old Navy, DICK’S Sporting Goods and more
• There is Sam’s Club anchored center less than a mile north of the property and a Home Depot anchored center less than a mile south
• Strong tenant synergy promotes crossover shopping to the subject property
• The subject property is located at the intersection between the heavily trafficked Airport Blvd. (37,500 VPD) and State Highway 291 (65,000 VPD)
• The property’s corner location makes it highly visible from both Airport Blvd. and Highway 291