Texas City, 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 subject property is located across from Palmer Plaza, an H-E-B-anchored center, alongside other national and credit tenants such as Ross Dress for Less and Dollar Tree
• The site is in close proximity to Texas City Bay, a shopping center anchored by Kroger and Five Below, with other tenants such as Burlington, Harbor Freight, McDonald’s, and Planet Fitness
• Sonic is located along a highly trafficked corridor fronting Palmer Highway, which sees an average of 29,000 vehicles per day, with easy access to Highway 146 (over 20,000 VPD) and Texas Avenue (over 18,000 VPD)

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Listing ID: a28TP000002HFW9YAO