Strong Corporate Backed Lease: Jack in the Box (NASDAQ: JACK) – Absolute NNN Lease – The subject property offers an investor a secure corporate backed lease with Jack in the Box, Inc. Jack in the Box Inc. (NASDAQ: JACK), based in San Diego, California, is a quick service hamburger chain that operates and franchises over 2,200 Jack in the Box restaurants in 21 states across the country, concentrated in California and Texas. The Absolute Triple-Net (NNN) nature of the lease requires the tenant pay for all expenses and building related costs, relieving a potential investor of any landlord responsibilities.
Successful 19 Year Operating History – Early 10-Year Lease Extension Reflects Commitment to Site – Absolute NNN Lease – Jack in the Box has operated successfully at this location since 1999. The tenant has exercised two extensions for 5 years and recently exercised an early 10-year lease extension, reflecting their commitment to the site and perceived long-term profitability at this location. The lease features a 10% rent increase in Year 8 of the 10-year extension and CPI increases not to exceed 5% in each of the (4) 5-year option periods. The Absolute Triple-Net (NNN) nature of the lease requires the tenant pay for all expenses and building related costs, relieving a potential investor of any landlord responsibilities.
Hard Corner Signalized Intersection (48,000 CPD) – Excellent Visibility & Access Outstanding Retail Synergy – The site is located on the hard corner signalized intersection of E Loop 281 & N Fourth Street, offering outstanding visibility to combined traffic counts of 48,000 cars per day and features multiple entrances from E Loop 281 and N Fourth St for quick in/out access. The subject property is located across from Walmart Supercenter, Sam’s Club, Home Depot, and Lowe’s, offering excellent retail synergy and a strong draw to the trade area.
Proximity to 638,000-SF Longview Mall – Close to Longview High School (2,039 Students) – The subject property is located a mere half mile from the Longview Mall with anchors such as Dillard’s, JCPenney, Stage, and Dick’s Sporting Goods. Additionally, the Jack in the Box is within walking distance of Longview High School with an enrollment of 2,039 students, making it an ideal lunchtime destination.
Dense Infill Location – Outstanding Surrounding Demographics – The dense infill site offers outstanding demographics, with nearly 80,000 people living within a 5-mile radius of the
subject property with an average household income of nearly $72,000, lending well to the tenant’s concept and supporting its continued success.
Located in Longview, TX – Center of Economic Activity for Northeast Texas – Regional Shopping Hub – The property is located in Longview, the forty-second largest city in the state of Texas. The city is the county seat of Gregg County and lies in the Upper East Texas part of the state. Located just two hours east of Dallas and one hour west of Shreveport, LA, Longview’s economy is healthy and the city is the center of economic activity for a significant part of Northeast Texas. Despite a national downturn in the housing market, Longview has been growing,
and home prices continue to rise. Some major sectors of the Longview economy include the East Texas Oil Field, services, technology, and manufacturing.
Additionally, Longview is becoming a regional hub for shopping, part of a successful strategy of the city to keep shoppers local and away from Tyler, Dallas, and Shreveport. Most new construction has been located on the north side around Hawkins Pkwy and US 259, with lesser development on the south side near Estes Pkwy.