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).
7% Rent to Sales Ratio – Unit Level Sales 26% Above Fazoli’s National Average – Absolute NNN Lease – Rent Growth – The Tenant has reported an ideal 7% rent to sales ratio and unit level sales are approximately 26% above Fazoli’s national average (Source: ownafazolis.com/financialperformance), alleviating any future vacancy risk concerns and providing a future investor with a long-term passive income stream. The lease features (2) additional 5-year options with 6% rent increases staggered throughout the remaining term and the additional Option periods.
Outparcel to Target Anchored Center – Across from SSM Health DePaul Hospital – Consistent Customer Draw to Site – The subject property is situated on an outparcel to a Target anchored center with strong co-tenants including Walgreens, US Bank, Red Lobster, and Aspen Dental. Additionally, the property is located across from a Kohl’s anchored center featuring other major tenants such as Aldi, Jack in the Box, Sprint, Dressbarn, Chipotle, Long John Silver’s, and Jack in the Box. Additionally, Fazoli’s is situated across from SSM Health DePaul Hospital, a 494-bed regional hospital that treats patients across the St Louis metropolitan area. SSM Health offers the only Level II Trauma Center in north St Louis County and is the only Comprehensive Stroke Center in St Louis County.
Dense Infill Location (144,000 People within 5 Miles) – 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 144,000 people within a 5-mile radius with an average household income over $70,000.
Located at Intersection of Interstates 70 & 270 – Quick Access to Downtown St Louis – Adjacent to St Louis Lambert Int’l Airport – The property is located at the intersection of Interstates 70 & 270 (combined 237,000+ cars per day), and sits between the on/off ramp to both highways, offering quick access to Downtown St. Louis, nearby St. Charles, etc. Additionally, the subject property is situated in the ‘shadow’ of the St. Louis Lambert International Airport, providing multiple access into the airport just two off-ramps down Interstate 70.
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.