Haltom City, TX - Chicken Express

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN Sale-Leaseback, freestanding, Chicken Express investment property located in Haltom City, Texas. The tenant, Chicken Express, will enter into a brand new 15 year lease at COE 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, steadily 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. Chicken Express, Distribution (CEFS), is headquartered in Burleson, Texas and has over 250 locations in Texas, Arkansas, Louisiana and Oklahoma.

The subject property is located along Denton Hwy, which averages 41,500 vehicles passing by daily and is the major retail thoroughfare serving the city of Haltom City. The site benefits from nearby direct on/off ramp access to Interstate 820 which averages 168,700 VPD. The Chicken Express is located in close proximity to Value Center (618,000 SF), that is anchored by Walmart Supercenter, Sam’s Club, The Home Depot, Burlington, and more. Additionally, the property is located just west of The Shoppes at Crown Point, a 178,000 square foot shopping center anchored by WinCo Foods, Floor & Decor, and more. Furthermore, the asset is ideally situated in a dense retail corridor, with numerous nearby national/credit tenants including Kroger, Crunch Fitness, Dollar General, Albertson’s, and many more. The 5-mile trade area is supported by a population of over 289,100 and 119,900 daytime employees, providing a direct consumer base from which to draw. Residents within a 5-mile radius of the subject property boast an affluent average household income of $108,081.