Searcy, AR - Texas Roadhouse

Description:

Cushman & Wakefield | Sage Real Estate Solutions, LLC, in collaboration with SRS Real Estate Partners is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, corporate guaranteed, Texas Roadhouse investment property located in Searcy, Arkansas. The tenant, Texas Roadhouse, Inc. (NASDAQ: TXRH), will be signing a brand new 15-year lease with 4 (5-year) options at the close of escrow, 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, 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. With over a 100% increase in stock price throughout the last 5 years, Texas Roadhouse continues to see immaculate growth as the chain was ranked one of the most popular restaurants during the COVID-19 pandemic. The building, which is slated to open in Dec. 2023, will feature a state-of-the-art design using the highest-quality materials available.

The Texas Roadhouse is located along U.S. Highway 64, which averages 29,000 vehicles passing by daily and is a major retail thoroughfare serving the city of Searcy. The property is adjacent to a Hobby Lobby anchored center that also features national/credit tenants including Five Below, Discount Tire, and Ulta Beauty. Furthermore, the asset is just southwest of Town & Country Plaza, a 172,000 square foot center with major tenants including Big Lots & JCPenney. In addition, Texas Roadhouse is less than 2 miles southwest of a Dollar Tree and Planet Fitness anchored center. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, Sam’s Club, Lowe’s Home Improvement, T.J. Maxx, Walgreens, and more, further increasing consumer traffic to the site. The subject property is in close proximity to Harding University, a 350-acre campus with more than 3,600 students. The 5-mile trade area is supported by a population of over 30,900 with an average household income of $64,681.