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Views: 283 DOM: 202 Updated: 11.18.24 Posted: 09.13.24 Status: Active

Summary

Price $3,143,000
Built/Renov 2024
Tenant Longhorn Steakhouse (GL)
Cap Rate 5.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 5,710
Lease Start 09-02-2024
#Units 563
Price/SF $550.44
Expiration 09-30-2034
Tenant Type Casual Dining
NOI $165,000
R. Term 9.6
Ownership Ground Lease
Rent/SF $28.90
Increases 10.0%/5/yrs
Pop 5Mi 112,317
Lot/AC 0.72
Options 4/5yrs/10%
AHHI 5Mi $137,864

Lease Highlights

  • Brand new 2024 construction
  • New 10-year ground lease with 4 (5-year) options to extend
  • The lease features 10% rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

LongHorn Steakhouse is strategically located on Lockwood Boulevard, with access to 18,100 vehicles passing by daily. The property serves as an outparcel to the Lockwood Village Shopping Center, which is anchored by Winn-Dixie and includes additional tenants such as Honey Coat Nail Spa, Café Panuzzo, and China One Restaurant. Additionally, it is surrounded by several key shopping...

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  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

LongHorn Steakhouse is an American casual dining restaurant chain best known for serving various kinds of steak and having Western/Texas-themed decor. In addition to steak, the menu also...


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Listing Broker

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Thomas Carr

CBRE: NLPG Atlanta

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  • 135 Listings
  • 23476 Views
  • 76 Sold
Brian Pfohl

CBRE: NLPG Atlanta

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  • 132 Listings
  • 22633 Views
  • 74 Sold

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

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Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

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Chris Bosworth

CBRE: NLPG Atlanta

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  • 133 Listings
  • 23314 Views
  • 77 Sold
Will Pike

CBRE: NLPG Atlanta

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  • 12 Listings
  • 1675 Views
  • 8 Sold

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

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Will Pike is a Vice Chairman and Managing Director of the Net Lease Property Group and Corporate Capital Markets practice. Mr. Pike’s focus is to advise retailers, institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. Since 2016, Mr. Pike and his partner, Chris Bosworth, have been responsible for the disposition of 1,020 properties with a value of more than $12.6 billion. Together, they have executed more than 3,200 transactions

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