Lake Jackson, TX - Sonic

Description:

• The tenant currently has 13+ years remaining on their initial lease with 4 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 10% rental increases every 5 years during the initial lease term and at the beginning of each option, growing NOI and hedging inflation
• Lease is guaranteed by the Sonic entity. Parent company here is Emerge!Restaurant Group with nearly 200 restaurants across all their brands

• The site is located along Hwy 332 that averages 14,000 VPD
• The subject property benefits from nearby direct on/off ramp access to Nolan Ryan Expy, a major thoroughfare that averages 39,100 vehicles passing daily
• The asset is located in a dense retail corridor, with nearby national/credit tenants including Target, Home Depot, Lowe’s, Walmart, Aldi and more

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Listing ID: a28TP000002HFSvYAO