Fazoli’s Restaurants: Nationally Recognized Brand – Corporate Lease Guaranty – Revitalized & Growing Concept – The property is leased to and guaranteed by Fazoli’s Restaurants, LLC (Corporate), an Italian-American fast casual restaurant chain with nearly 220 restaurants in 27 states. Since the beginning of 2018, Fazoli’s has opened five restaurants across the country with plans to open an additional seven by year’s end for a total of 12 locations, setting a record for the most openings since 2002 (Source-Fast Casual.com).
20+ Year Operating History – 4.8% Rent to Sales Ratio – Commitment to Site – Rent Growth – Fazoli’s has operated at this location since 1997 (20+ years). The Tenant has reported an ideal 4.8% rent to sales ratio at this location and recently exercised their first Option to Extend, reflecting their commitment to the site.. The lease features (2) additional 5-year options with 6% rent increases staggered throughout the remaining term and the additional Option periods.
Located on Outparcel to Gordman’s Anchored Center – Dense Retail Corridor – The subject property is located on an outparcel to a Gordman’s anchored center with strong co-tenants in the center including McDonald’s, Starbucks, Panda Express, Wendy’s, Play It Again Sports, Denny’s, Arby’s, and Steak ‘n Shake. The subject property fronts Jeffco Blvd, offering excellent visibility to 13,000+ cars per day, and is situated in a dense retail area with major tenants such as Rally’s, Dunkin Donuts, MetroPCS, Chick-fil-A, Hobby Lobby, Applebee’s, Shop ‘n Save, Petco, Walmart Supercenter, Shoe Carnival, Five Guys Burgers, O’Reilly Auto Parts, Jimmy John’s, Mattress Firm, and more.
Proximity to Interstate 55/Hwy 141 – Quick Access to Downtown St Louis – The property is located less than a half-mile from the on/off ramp to Interstate 55 (108,000 cars per day), making it an easy on/off stop for visitors traveling to/from Downtown St Louis just 17 miles away.
Dense Infill Location – Excellent Surrounding Demographics – The property is located in a dense infill location surrounded by residential, retail centers, schools and business parks, providing a strong customer draw to the trade area. It benefits from outstanding demographics, with nearly 141,000 people within a 5-mile radius with an average household income over $92,000.
Located Within St Louis MSA – Largest Metropolitan Area in Missouri – Diverse Economy – The subject property is located 17 miles southwest of St. Louis, the largest metropolitan area in Missouri with an estimated population of 311,400 (2016). The economy of metropolitan St. Louis relies on service, manufacturing, trade, transportation of goods, and tourism. Its metro area is home to major corporations, including Anheuser-Busch, Express Scripts, Centene, Boeing Defense, Emerson, Energizer, Panera, Enterprise, Peabody Energy, Ameren, Post Holdings, Monsanto, Scottrade, Edward Jones, Go Jet, Purina and Sigma-Aldrich. Located along the western bank of the Mississippi River. St. Louis is a major port in the state of Missouri, and has consistently been one of the largest inland ports by tonnage in the country.