Iconic Global Brand: Burger King – 2nd Largest Fast Food Burger Chain – Burger King is the second-largest fast food hamburger chain in the world, and the fourth-largest fast food restaurant chain overall. The chain serves over 11 million visitors every year in 15,423 restaurants in 100 countries. Burger King posted 2016 revenues of $285.8 million, a growth of 1.3% over the prior year.
Brand New Construction – New Burger King Prototype – Relocation Restaurant – The subject property was completed in March 2018 and represents the newest Burger King prototype building. The new site is a relocation restaurant for Burger King, offering improved access and visibility.
New 20 Year Absolute NNN Ground Lease – No Landlord Responsibilities – Rent Growth – The new 20-year ground lease commenced on October 24, 2017 and features 10% rent increases every five years in the primary term and in the additional (4) 5-year renewal options. The Absolute Triple-Net (NNN) Ground Lease provides for zero landlord responsibilities, with the tenant responsible for property taxes, insurance, and all maintenance of the property and building.
Best In Class Multi-Unit Operator – Largest Franchisee in the State of New Mexico – The franchisee, M&M Bros., Inc., is an established franchisee and the largest franchisee in New Mexico. The company owns 19 Burger King locations throughout New Mexico, as well as a Pei Wei, a Bob’s Burger, and the entire New Mexico territory for Jersey Mikes (6 currently open).
Dense Trade Area – 158,000 People within 5-Mile Radius – High Traffic Counts (60,000 VPD) – The property is located on Isleta Blvd SW at the intersection of Rio Bravo Blvd SW, offering excellent visibility and signage to combined traffic counts of 60,000+ cars per day. This location is along a a strong retail corridor, with neighboring tenants such as Taco Bell, O’Reilly Auto Parts, Long John Silver’s, McDonald’s, Bob’s Burgers, Albertsons, Walgreens, Payless Shoe Source, First Financial Credit Union, Bank of America, Family Dollar, Church’s Chicken, Subway, and more.
Minutes to Downtown Albuquerque – Center of New Mexico’s Technology Corridor – The subject property is only 17 miles from Downtown Albuquerque, the most populous city in New Mexico, and the 32nd largest city in the U.S. Albuquerque lies at the center of the New Mexico Technology Corridor, a concentration of high-tech private companies and government institutions including Facebook, Intel, Northrup Grumman, and Tempur-Pedic.