Lake Oswego, OR - Chick-fil-A

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN, newly renovated Chick-fil-A investment property located in Lake Oswego, Oregon. The tenant, Chick-fil-A, Inc., recently signed a brand new 15 year lease with 6 (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. Chick-fil-A Inc. is an established and nationally recognized brand with over 3,150 locations.

The site is strategically situated at a signalized, hard corner intersection along Kruse Way (25,100 VPD) with direct on/off ramp access from State Highway 217
(106,600 VPD) and Interstate 5 (155,800 VPD), a heavily trafficked highway serving commuters across the Western U.S. Furthermore, the property is located just 8 miles south of downtown Portland, the largest city in Oregon, with over 630,000 residents and 2.5 million+ in its MSA, providing a broad consumer base from which to draw. The city of Lake Oswego represents an affluent suburb South of Portland, with an average household income of $180,719 within 1 mile of the subject property. Moreover, the immediate vicinity also boasts a strong office corridor, including the adjacent Kruse Woods Corporate Office Park, with an additional 4.2 million square feet of office space and 20,092 daytime employees within a 1-mile radius of the site. Nearby retailers include national brands such as Costco, Walmart Supercenter, Home Depot, Lowe’s, and Winco Foods, as well as QSR tenants including Chipotle and Starbucks, increasing consumer traffic to the area. The greater 5-mile trade area is supported by 273,600 residents and 130,100 employees with an average household income of $155,518.