Asking Price
Area Size
NOI Net Operating Income
NIY
Asking Price
Area Size
NOI Net Operating Income
NIY

Documents

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Attributes

Building Area Net
Land Area Net ()

Asset Description

JLL is pleased to offer for sale the ground lease interest in a newly constructed quick-service restaurant (the “Property” or “Asset”) located in Richmond, Texas. The Property is leased to KFC (the “Tenant” or “Company”) and features a franchise guaranty from the EMERGE! Restaurant Family, an established 95-unit owner and operator. Founded in 1952, KFC is one of the world’s most popular chicken restaurants operating more than 25,000 stores in 145+ countries and territories. The Asset is strategically located on an outparcel to Walmart Supercenter in the Crossing at Katy Fulshear Shopping Center along FM 1093 in the high growth Houston metro area. This property possesses excellent real estate fundamentals and presents the opportunity to acquire a long-term investment leased to an industry leading quick-service restaurant in the dynamic Houston MSA.


Investment Highlights

WORLD RENOWN QUICK-SERVICE TENANCY

KFC operates more than 25,000 restaurants in 145+ countries and territories

Outstanding quick-service chain generating $2.27 billion in total sales annually

Established franchisee within a restaurant group that operates 26 KFC restaurants


OUTPARCEL TO WALMART SUPERCENTER

Anchored by Walmart Supercenter in the expansive Crossing at Katy Fulshear Shopping Center with leading national retailers such as PetSmart, Ross Dress for Less, and T.J. Maxx

Dense and highly affluent demographic base with over 142,400 residents and average household income of more than $175,000 within a 5-mile radius

Adjacency to FM 1093 & 1463 boasting combined traffic counts over 55,100 VPD


RAPID GROWTH HOUSTON MARKET

Booming Texas popularity primarily due to business-friendly and zero income tax environment

Accelerating Houston MSA population growth adding nearly 700,000 residents in the next five years

Nicknamed the Energy Capital of the World, Houston has become a corporate hub with the second-most Fortune 500 headquarters of any US municipality


OPTIMAL NET LEASE STRUCTURE WITH ZERO LANDLORD RESPONSIBILITIES

The Tenant operates on an absolute triple-net ground lease with zero landlord responsibilities

Nearly 18.2 years of primary lease term with 10% rent escalations every 5 years

New 2020 construction including four, five-year renewal options with 10% rent increases every 5 years


Last Updated Date: 27 Oct 2021

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Last Updated Date: 27 Oct 2021

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