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BJ’s Restaurant & Brewhouse Ground Lease, San Antonio, TX

BJ’s Restaurant & Brewhouse Ground Lease

TX, USA

Price $4,900,000
Cap Rate 5.00%
NOI $245,000
Lease Term 16 Years
Lease Type Absolute NNN Ground Lease, With Tenant Responsible For All Taxes, Insurance, Maintenance, And Repair, Including Roof, Structure, And Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2023
Building Size 7,600 SF
Lot Size 2.08 Acres (90,605 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Jack Hinson
Brokerage
704.572.9921
jack.hinson@cushwake.com
CA RE License #02059267

Investment Highlights

NEW 16-YEAR CORPORATE ABSOLUTE NNN GROUND LEASE IN TAX-FREE STATE
» 16-year absolute NNN ground lease to strong corporate tenant
» 10% rental increases every five years, providing a hedge against inflation
» No landlord responsibilities, ideal for an out-of-area investor
» BJ’s Restaurants, Inc. (NASDAQ: “BJRI”) is a strong national brand with 216 locations in 29 states
» BJ’s earned a Q4 2021 record $291.3 million in total sales, followed by a Q1 2022 record $298.7 million
» Property is a 2023 construction on a large parcel with multiple access points and 155 total parking spaces, providing ideal accessibility
» Texas has no state income tax, estate tax, or inheritance tax

PRIME LOCATION AT ENTRANCE TO BROOKS CITY BASE
» Conveniently located along Southeast Military Drive and near the signalized intersection with South New Braunfels Avenue, with excellent visibility and access to 46,167 vehicles per day
» Located at the entrance to Brooks City Base, a $1.5B+, 1,308-acre mixed-use community with 6,000 employees and 2,300+ students
» Immediately surrounded by notable tenants such as Walmart Supercenter, Target, The Home Depot, Lowe’s Home Improvement, Best Buy, Chick-fil-A, and many more
» Now home to more than 50 businesses, the Brooks region is predicted to support more than 19,000 direct and indirect jobs by 2024

DENSELY POPULATED AREA WITH EXCELLENT TOURIST DEMOGRAPHICS
» 197,450 residents live within five miles of the property, creating a large and reliable customer base for the site
» Located in a major tourist area and near Texas landmarks including Mission San Juan (300,000+ annual visitors) and San Antonio Missions National Historical Park (1.33 million visitors in 2021)
» Projected income increases within 1-, 3-, and 5-mile radii over the next five years poise BJ’s and San Antonio for steady concurrent growth
» Seven miles from Downtown San Antonio, the urban core of Greater San Antonio serving 2.5 million people


Property Description

» This BJ’s Restaurant & Brewhouse is conveniently located along Southeast Military Drive and near the signalized intersection with South New Braunfels Avenue, with excellent visibility and access to 46,167 vehicles per day
» Located at the entrance to Brooks City Base, a $1.5B+, 1,308-acre mixed-use community with 6,000 employees and 2,300+ students
» The property is immediately surrounded by notable tenants such as Walmart Supercenter, Target, The Home Depot, Lowe’s Home
Improvement, Best Buy, Chick-fil-A, and many more
» Now home to more than 50 businesses, the Brooks region is predicted to support more than 19,000 direct and indirect jobs by 2024
» 197,450 residents live within five miles of the property, creating a large and reliable customer base for the site
» Located in a major tourist area and near Texas landmarks including Mission San Juan (300,000+ annual visitors) and San Antonio Missions National Historical Park (1.33 million visitors in 2021)

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