Popeyes NNN Lease – Sold
We represented the Buyer and Sold a brand new Popeyes NNN Lease located in Port Orange FL. This investment featured a 20 Year Lease Term, 10% rental escalations every 5 years. Located in a strategic location, this Popeyes NNN Lease is out-parcel to Kohl’ s, adjacent to Publix and off Interstate 95. The subject property is a newly constructed Popeyes Louisiana Kitchen Ground Lease located as an out-parcel to a Kohl’ s in Port Orange, Florida, approximately 50 miles from Orlando. The Kohl’ s is immediately adjacent to a Publix Supermarket, with Wendy’ s and McDonald’ s as the other out-parcels.
The tenant, Sailormen, Inc., has signed a 20 year Triple Net Lease that expires on June 30, 2034. The Lease contains 10% escalations every 5 years with four (4), five (5) year options to extend. Sailormen, Inc. currently operates over 140 restaurants in Florida, Alabama, Illinois, Georgia, Mississippi, Louisiana, and Missouri. The company was founded 30 years ago and is headquartered in Miami, FL. Popeyes Louisiana Kitchen, Inc. (NASDAQ:PLKI) founded in 1972 and headquartered in Atlanta, GA, currently operates approximately 2,225 restaurants in 47 states.
- 10% rental escalations every 5 years
- Dense retail corridor off Interstate 95 – Near Pavilion at Port Orange, a 450,000 sf open-air center
- Located as an out-parcel to Kohl’ s, immediately adjacent to Publix
- Sailormen, Inc., founded 30 years ago, currently operates over 140 Popeyes in 7 state
- 1-mile AHI is nearly $80,000 with an expected population growth of over 11% by 2018 (7% in 3-mile, 6% in 5-mile)
Source: Marcus & Millichap – All information shown is believed to be accurate, but it is not warranted.
We Specialize in NNN Lease Investments
At CASABLANCA Commercial Real Estate we specialize in Triple Net NNN Lease Investments and we can help you finding and negotiating the best deal on your behalf. We have strong market connections that allow us to find for you properties that are not even in the market yet. Moreover, our Buyer’s Brokerage services are FREE for the buyer.
Why Choosing Us
- A strong financial background is what sets us apart. We are former Commercial Real Estate Bankers with more than 15 years of experience in Commercial Property Lending.
- Commercial Property Financing – We leverage in our extensive Financial and Corporate Background, which allow us to assist our clients with the financing process, helping them to make the transaction possible from a financial standpoint. We are able to speak the banker’s language, we negotiate with them on your behalf, we know what they are looking for, we know how to get your loan application approved.
- Strong Market Connections – We have key relationships with other Brokers, Commercial Bankers, Private Equity Funds, Financing Brokers, Developers, National Tenants, among many other professionals, that we introduce to our customers.
- Free Buyer’s Brokerage Fees – Our services for the Buyer are FREE. In most of the time we earn our commission through a co-broker agreement with the listing broker.
- Free Financing Advice and Support – Our financing advice and support is complimentary and provide it as a value added to our customers. We earn our commission through the Real Estate transaction.
Contact Us here or call us directly at 407.205.7570, let us be your Triple Net NNN Lease Investment Advisor.