Newnan, GA - Red Robin

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding, Red Robin investment property located in Newnan, Georgia. The tenant has over 13 years remaining on its lease with 4 (5-year) options to extend, 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, steadily 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. Founded in 1969, there are now more than 500 Red Robin restaurants across the United States and Canada, including those operating under franchise agreements.

Red Robin has excellent location as an outparcel to the Ashely Park retail center, the primary retail destination in the city of Newnan and the southwestern Atlanta MSA. The center performs in the top 97th percentile among shopping centers nationwide with 6.1M+ annual visits (per Placer.ai), offering 700K+ SF of retail space occupied by tenants including Best Buy, Dillard’s, Barnes & Noble, Dick’s Sporting Goods, Regal Cinema, and Onelife Fitness. The tenant receives substantial crossover retail exposure from its position within the center in addition to the adjacent Target/BJs Wholesale Club anchored center, further increasing consumer draw to the site. Moreover, the immediate retail corridor boasts strong national fast-food and restaurant tenants such as Chick-fil-A, Burger King, Wendy’s, Olive Garden, Panera Bread, and Buffalo Wild Wings, boosting tenant synergy throughout the area and increasing consumer traffic to the site. The subject property is strategically positioned near the entrance to the center, making it easily accessible via Bullsboro Drive (59,500 VPD) and Interstate 85 (67,600 VPD), two major highways connecting the site to downtown Atlanta, the sixth largest MSA in the country with over 6 million residents. The 5-mile trade area is supported by a population of over 75,600 residents and 33,600 employees with an affluent average household income of $112,582.