Del Taco Ground Lease
| Price | $2,560,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 20 Years |
| Lease Type | Absolute NNN Ground Lease, with Tenant Responsible for all Taxes, Insurance, and Maintenance, Including Roof, Structure, and Parking Lot |
| Rental Increases | 10% Rental Increases Every Five (5) Years |
| Year Built | 2019 |
| Building Size | 2,400 SF |
| Lot Size | 0.77 Acres (33,541 SF) |
| Status | Sold |
| Lead Broker Information | Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 |
Investment Highlights
NEW 20-YEAR NNN GROUND LEASE TO CORPORATE TENANT
» New 20-year NNN ground lease with no landlord responsibilities
» Corporate lease to Del Taco (NASDAQ: “TACO”), the second largest Mexican-American quick service restaurant chain by units in the United States, with more than 580 locations
» 10% rental increases every five years, providing an excellent hedge against inflation
» 2018 marked Del Taco’s sixth consecutive year of system-wide comparablerestaurant sales growth
HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Located at the signalized intersection of U.S. Route 78 and Jimnet Lane, with excellent visibility and access to 39,000 vehicles per day
» U.S. Route 78 is Loganville’s primary retail corridor
» Directly across from North Logan Commons, a large power center anchored by Lowe’s and featuring PetSmart, T.J. Maxx, Dollar Tree, Anytime Fitness, OfficeMax, Dick’s Sporting Goods, and more
» Within walking distance of shopping centers anchored by Home Depot, Walmart Supercenter, and Publix
CENTRAL LOCATION IN FAST-GROWING ATLANTA SUBMARKET
» Near several large schools, including Grace Snell Middle School (1,173 students) and Loganville High School (1,509 students)
» 86,909 residents live within five miles of the property, and the population within the same area is expected to increase more than 10% by 2023
NEW 2019 CONSTRUCTION FEATURING DEDICATED DRIVE-THRU
» Built by tenant at tenant’s expense, demonstrating long-term commitment to the location
» Drive-thru provides additional customer convenience and caters to commuter traffic
Property Description
SOLD
The property is conveniently located at the signalized intersection of U.S. Route 78 and Jimnet Lane, with excellent visibility and access to 39,000 vehicles per day. U.S. Route 78 is Loganville’s primary retail corridor, and the property is located near large shopping centers and nationally recognized retailers. The property is directly across from North Logan Commons, a large power center anchored by Lowe’s and featuring PetSmart, T.J. Maxx, Dollar Tree, Anytime Fitness, OfficeMax, Dick’s Sporting Goods, and more. Within walking distance of the property are shopping centers anchored by Home Depot, Walmart Supercenter, and Publix. Other notable retailers in the surrounding area include Aldi, Starbucks, Chick-fil-A, Ace Hardware, CVS, Kroger, and Walgreens.
The property is centrally located near several large schools, including Grace Snell Middle School (1,173 students) and Loganville High School (1,509 students). Additionally, the property is bordered by residential neighborhoods. The surrounding area’s population has grown rapidly in recent years, and the property is near several residential communities that have recently been completed or are under construction. Currently, 86,909 residents live within five miles of the property, and the population within the same area is expected to increase more than 10% by 2023. Similar amounts of population growth are expected within one- and three-mile radii as well.
