Smyrna, TN - Chicken Salad Chick

Description:

• The tenant has nearly 8 years of firm term remaining with an additional 3 (5-year) option periods left to extend
• The lease features 10% rental increases every 5 years throughout the initial term and option periods, growing NOI and hedging against inflation
• The lease is signed by Chicken Salad Chick’s corporate lease entity SSRG II, LLC
• Founded in 2008, Chicken Salad Chick is a well renowned southern-style QSR franchise with over 250 operating restaurants across 18 states
• Chicken Salad Chick is on pace to hit its goal of 40 additional stores opened by the end of this year.
• Tenant pays for CAM, taxes, insurance, and maintains most aspects of the premises
• The landlord is solely responsible for roof & structural repairs and is to carry commercial general liability insurance, which tenant reimburses for
• Ideal, low-management investment for a passive investor

• The property is ideally situated within a dense retail corridor
• The asset is within direct proximity to Marketplace at Smyrna, a 518K+ SF Power Center anchored by Target, Kohl’s, Ross Dress for Less, and others
• The additional surrounding national tenants include Lowe’s, The Home Depot, Kroger, Tractor Supply Co., Big Lots, Walmart Supercenter, Publix, and others
• Strong tenant synergy increases consumer draw to the immediate trade area, promotes crossover store exposure, and contributes to the local economy
• The property is 1.25 miles northeast of TriStar StoneCrest Hospital (119 beds), making the subject a convenient lunch/dinner option for staff, patients, and visitors
• Strategically located along Sam Ridley Parkway with clear visibility and access to an average of 60,600 vehicles passing by daily
• The asset also benefits from nearby access onto Interstate 24 (150,200 VPD), directly connecting to Nashville and the surrounding MSA
• The freestanding building is equipped with a drive-thru, providing ease and convenience for customers
• Built in 2022, the property features a state-of-the-art design using the highest quality materials available
• The asset has excellent visibility and multiple points of ingress/egress
• The property is near numerous single-family communities and multi-family complexes, providing a direct residential consumer base
• The nearby multi-family complexes include Anthem at Creekside (180 units), Vintage Stonetrace (325 units), Stoneridge Farms (336 units), and others
• More than 112,100 residents and 51,900 employees support the trade area
• $95,178 average household income