Overview

Description

• IHOP corporate guaranteed lease (NYSE: DIN)
• The tenant has occupied the property since 1998 and just signed a brand new
5- year lease extension, demonstrating their long-term commitment to the site
• The lease features 1 (5-year) option to extend with a 10% rental increase at the beginning of the option period, growing NOI and hedging against inflation
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• No landlord responsibilities
• Ideal, management-free investment for a passive investor

• The property is an outparcel to Park Central Crossing, a heavily trafficked power center that serves over 5.5M visitors per year (per Placer.ai)
• Located within a dense retail corridor, IHOP is within close proximity to a variety of national/credit tenants including Target, Best Buy, TJ Maxx, Chick-fil-A, Chipotle, Raising Cane’s, and more
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site
• IHOP is strategically located along E Farm to Market Rd 365, a major retail and commuter thoroughfare, an average of 29,400 vehicles passing by daily
• The property enjoys convenient access to the on/off ramps of Highway 287 (58,500 VPD), ensuring a steady supply of consumers
• The investment benefits from excellent visibility and access via significant street frontage, multiple points of ingress/egress, and a large pylon sign.
• More than 86,000 residents and 32,000 employees support the trade area
• $91,370 average household income

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