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

Jones Lang LaSalle America, L.P. is pleased to offer for sale the fee simple interest in a recent 2018 constructed Raising Cane’s (the “Property” or “Asset”) located in Katy, Texas. Raising Cane‘s Restaurants, LLC (the “Tenant” or “Company”) is the corporate parent of the Raising Cane's chicken empire who has 540+ locations and ranked among the best and most profitable quick-service restaurants. The Tenant is operating on an absolute NNN lease with over 11 years of primary lease term remaining and zero landlord responsibilities. The Asset is positioned on an outparcel within the Crossing at Katy Fulshear Shopping Center that is anchored by Walmart Supercenter. The surrounding area contains outstanding demographics with over 142,400 residents and AHHI of more than $175,000 within a five-mile radius. This Property possesses excellent real estate fundamentals and presents the opportunity to acquire a long-term investment leased to an industry leading tenant in an affluent suburb of Houston.


Investment Highlights

CORPORATE GUARANTEE FROM ONE OF THE BEST QSR CHAINS

Raising Cane’s generated 14.8% year-over-year system-wide store sales increase in 2020

In 2020, the Tenant surpassed $1.7 billion in total revenue, more than tripling its restaurant revenue in the last five years

Expansive global restaurant chain containing over 540 locations in 24+ states 


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


LONG-TERM NET LEASE STRUCTURE WITH ZERO LANDLORD RESPONSIBILITIES

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

Corporate-backed lease with 11.2 years of primary lease term averaging 5% rent escalations every 5 years

Recent 2018 construction including five, five-year renewal options with 10% rent increases every 5 years



Last Updated Date: 23 Nov 2021

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Last Updated Date: 23 Nov 2021

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