Overview

Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, corporate signed, dual drive-thru equipped, Salad and Go investment property located in Tulsa, Oklahoma. The tenant, And Go Concepts, LLC, recently signed a brand new 20-year lease with 4 (5-year) option periods 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. The newly-constructed building features a state-of-the-art design and high-quality materials. Salad and Go was founded in 2013 in Gilbert, Arizona. The company currently operates nearly 103 locations in the Western United States and is continuing to expand.

The Salad and Go is located along E. 71st St, a major retail and commuter thoroughfare that sees an average 44,300 vehicles passing by daily. The investment is near the signalized, hard corner intersection of E. 71st St and S. Lewis Ave (75,800 VPD). The building is equipped with dual drive-thrus, providing ease and convenience for customers. On average, stores with drive-thrus experience higher sales than those without. The asset is located just east of Tulsa Hills Shopping Center, the #2 ranked power center in Oklahoma that serves over 7.6M visitors per year (per Placer.ai). The 633,000 square foot shopping center houses major tenants including Target, Lowe’s Home Improvement, Dick’s Sporting Goods, Sam’s Club, Best Buy, Marshall’s, and more. The asset is located in a dense retail corridor with national/credit tenants including Walmart Supercenter, Chick-Fil-A, Raising Canes, Starbucks, McDonald’s, Wendy’s, and Panda Express. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover tenant exposure to the site. The 5-mile trade area is supported by over 195,604 residents and 119,866 employees with an affluent average household income of $99,975, providing a direct consumer base from which to draw.

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