I redeveloped an old Jack in the Box at a signaled intersection on 281 (2711 US Hwy 281), right across from Walmart and Lowes, along with another Petco anchored center that's in development.

We signed a deal with Layne's Chicken Fingers on a 15 year lease with a strong franchisee who has 3 or 4 other leases signed for new locations in Central Texas. They have opened very strong and are doing about $50,000 a week in sales so far. Chick-fil-A has a store about a quarter mile to the south doing over $8MM a year in sales.

The rent is $115,000 absolute net (no landlord responsibilities at all) with 12.5% rent increases every 5 years and in every option period, and we're asking a 5.5% cap rate, with some flexibility for folks who can close before year end.

If you have any interest, you can reach me via DM here and a link the marketing package and further information is below. Thanks, and Gig 'em.

https://sandsig.com/listings/laynes-chicken-absolute-nnn-ground-lease-restaurants-texas/

This is a ground lease?

Yessir it is

A ground lease and an absolute net lease are two different things.

All ground leases are absolute net. Not all absolute net leases are ground leases. Yes.

In this case, a ground lease and an absolute net lease are essentially the same thing; however, unless I'm missing some info here this is not what one would typically consider a ground lease. In a traditional ground lease the land owner does not build or own the improvements. Based on the information given, the owner of this property owns both the land and the building. Either way, it functions the same.

Typically true, but this one will function as a ground lease.

Largely in this space, most investors prefer this structure to owning improvements. Though some prefer the depreciation, it's more often than not that net lease buyers want a GL deal.

Nice project-- you should look at doing the same with the Burger King in Burnet TX. Give me a ring 21o-683-5513

frostyelko said:

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Nice project-- you should look at doing the same with the Burger King in Burnet TX. Give me a ring 21o-683-5513

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Are you involved there? Two of the restaurants in that run went out all at the same time.

My same franchisee actually took the vacant Burger King in Lampasas and is opening there in the next 60 days or so. Doing about $55k a week in sales right now at my store.

Yes please give me a call. I have it listed.