Allen, TX - Chicken Express

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN Sale-Leaseback, freestanding, Chicken Express investment property located in Allen, Texas. The tenant, Chicken Express, will enter into a brand new 15 year lease at COE with 3 (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. Chicken Express, Distribution (CEFS), is headquartered in Burleson, Texas and has over 250 locations in Texas, Arkansas, Louisiana and Oklahoma. The offering also includes a 1,200 square foot office building that the seller uses as their headquarters.

The subject property is along E. Main St. that averages 34,200 VPD. The site benefits from nearby direct on/off ramp access to U.S. Hwy 75, a major thoroughfare that averages over 184,000 vehicles passing by daily. The asset is located in a dense retail corridor, with numerous nearby national/credit tenants including Hobby Lobby, Take 5, Autozone, Walgreens, Staples, PetCo, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. Furthermore, the site is in close proximity to Allen High School (5,317 students) and Ford Middle School (798 students), further increasing consumer traffic to the immediate trade area. The 5-mile trade area is supported by a population of over 245,000 residents and 76,000 employees, providing a direct consumer base from which to draw. Residents within a 3-mile radius of the subject property boast an affluent average household income of $161,952.