Desirable National Tenant: Texas Roadhouse – Corporate Lease Guaranty – 2017 Revenues of $2.2B – The property is leased to Texas Roadhouse (Corporate), an American restaurant chain that specializes in steaks and promotes a Western theme. Headquartered in Louisville, Kentucky, the chain operates over 560 locations in 49 states in the United States and seven countries. The company has seen consistent success with 32 consecutive quarters of comparable sales growth through 4Q17 and reported revenues of $2.2B in 2017.
Extremely Low Rent – High Probability of Tenant Success at this Location – Rare Low Price Point for Texas Roadhouse Investment – This investment provides an investor with a rare opportunity to acquire a brand-new Texas Roadhouse investment at an extremely low price point. The low ground rent provides an investor with an easily replaceable rent and even some potential rent upside, in the very unlikely event the tenant was to ever vacate. The extremely low rent also provides an investor with added security knowing that it’s highly probable the tenant will be profitable at this location and thus, remaining at this location for many years to come.
New 2018 Construction – Latest Texas Roadhouse Prototype – Long Term Absolute NNN Ground Lease – The subject property is a new corporate backed ground lease for Texas Roadhouse, featuring the latest 2018 corporate prototype and offering an investor high-quality, new construction. The new corporate backed 10-year lease commenced in July 2018 and features 10% rent increases every five years in the Primary Term and in the (4) 5-year option periods. The lease is absolute triple-net (NNN) and provides for no landlord responsibilities, offering an investor a passive income stream.
Outparcel to University Marketplace Anchored by Meijer, Hobby Lobby, Kohl’s – Strong Customer Draw to Trade Area – The property is a new pad building in University Marketplace, a shopping center anchored by Meijer, the dominant supermarket chain in Indiana, with other major retailers in the center including T.J. Maxx, Hobby Lobby, PetSmart, and Kohl’s, as well as co-tenants Regions Bank, Hardee’s, and Mattress Firm, offering outstanding retail synergy and a strong draw to the center.
Excellent Visibility Along So Western Ave/Hwy 9 (22,000+ CPD) – Strategic Location Across from Indiana Wesleyan University – High Performing Trade Area – The subject property is ideally located along South Western Ave/Highway 9, offering excellent visibility and signage to traffic counts of 22,000 cars per day. South Western Avenue is the major north/south traffic corridor in the Marion and is a highly desirable retail trade area harboring national tenants such as Walmart Supercenter, Lowe’s, Tractor Supply Co, Taco Bell, O’Reilly Auto Parts, McDonald’s, Harbor Freight, CVS, and more.
The property is located directly across from Indiana Wesleyan University (IWU), making this location the most desirable for retail in Marion. IWU, which has a total enrollment of 15,872 students, is the largest private university in Indiana and the fastest-growing university in the state. IWU is also the second largest employer in Grant County; the university employs over 1,400 people and contributes over $1 million annually to the local economy.
Located in the City of Marion – Largest City in Grant County – Home to General Motors Metal Stamping Plant – Recent $91M Investment – The subject property is located in the City of Marion, the largest city in Grant County, and an economic hub for the area. Marion houses some of the most successful manufacturing and distribution plants in Indiana and the nation, and is the home to 7 of the Top 10 Employers in the County, including General Motors (GM), Wal-Mart, Café Valley, and Dollar General.
Grant County’s largest employer, General Motors, operates its Marion Metal Center approximately three miles from the property. General Motors recently invested $91 million into the Marion plant, which currently employs more than 1,600 workers. Walmart and Dollar General also operate large distribution facilities in the nearby area, with a combined workforce of 1,430 employees.