Waldorf, MD - Chick-fil-A

Description:

• Corporate signed lease with 12+ years remaining and 8 (5-year) options to extend
• The lease features 10% rental increases every 5 years during the initial term, and at beginning of each option period, generating additional NOI and hedging against inflation
• Double drive-thru
• Direct access from U.S. Hwy 301/Crain Hwy Coming Spring 2024
• Building becomes the property of ground owner at termination of the lease

• Located on the signalized, hard corner intersection of Smallwood Drive and Crain Highway, featuring a combined 79,400 vehicles passing by daily
• Crain Highway is a major retail thoroughfare, and is home to numerous other national/credit tenants including Walmart, Sam’s Club, Target, Lowe’s Home Improvement, Aldi, and more
• The property is located adjacent to St. Charles Towne Center (1.6M visits per year), a 1M+ square foot mall anchored by Macy’s and Kohl’s
• Strong surrounding tenant synergy increases consumer draw to the overall trade area and promotes crossover shopping to the site
• Equipped with a dual-lane drive-thru, promoting ease of access for customers
• Stores with drive-thrus see significantly higher sales than those without
• Chick-fil-A is located near an abundance of residential housing, as well as numerous multifamily housing complexes, including New Forest Apartments (256 units), Westchester at the Pavilions (491 units), Fox Chase Apartments (176 units), and more, creating a direct consumer base from which to draw
• More than 99,000 residents and 33,000 employees support the trade area
• Features an average household income of $132,830