Raising Cane's | Corona, CA

Highlights:

• Corporate Raising Cane’s lease – one of the fastest growing restaurant brands with 800+ locations.
• 2022 construction as part of the new class-A retail center, Parkridge Plaza. Property features a double lane drive-thru.
• Nearly twelve (11.8) years left on the initial lease term with another (19) years of option periods, providing stable long-term returns.
• Triple net (NNN) ground lease, with zero landlord responsibilities providing a completely passive investment opportunity.
• 10% rental Increases every five (5) years. First rental increase will occur in 2026, and the average cap rate over the remaining initial term is 4.78%.
• 116,264 residents located within three (3) miles and 266,698 residents located within five (5) miles.
• Robust daytime population with strong combined traffic counts of 41,700 cars per day at N. Main St. and W. Parkridge Ave.
• Corona is a vibrant community located in the Inland Empire (Southern California) at the junction of the 91 (246,500 CPD) and 15 freeways (158,000 CPD). The subject property is located minutes away from these large California freeways and adjacent to Orange County, California.
• Located in the heart of a dense retail trade area, surrounded by numerous shopping centers including North Main Plaza (225,000+ SF), Gateway Town Center (264,000+ SF), and Corona Hills Plaza (530,000+ SF).
• Nearby national retailers include Target, Walgreens, WinCo Foods, Costco, Walmart Supercenter, Burlington, Smart & Final Extra!, The Home Depot, Big Lots, Hobby Lobby, Floor & Décor, LA Fitness, and many others.
• Situated near several luxury apartments including Artisan at Main Street Metro (400+ units), One11 (178 Units), and Metro at Main (298 units), providing a built-in customer base.
• The Inland Empire is one of the largest and most rapidly growing economies in the nation largely due to the diverse industrial presence in the manufacturing, distribution, and logistics sectors. The subject property is located within minutes of many large industrial corridors.

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