Investment Highlights
The property is occupied by a single tenant on a net lease, minimizing landlord responsibilities
Applebee?s, which is a subsidiary of Dine Brands (NYSE: DIN), has over 1,600 locations and a presence in 17 countries
Within a three-mile radius, the average household income is over $106,000 and has experienced steady growth in the past 5 years
Thrive restaurant group is a well-known, nationally successful franchise company with a diversified portfolio over 170 restaurants
The property is located adjacent to and has signage highly visible from NW Arterial, the primary north-south roadway serving Western Dubuque
Executive Summary
Jones Lang LaSalle Americas, Inc. (?JLL?), is pleased to exclusively offer for sale the fee-simple interest in Applebee's (the ?Property?) located at 1395 Associates Dr in Dubuque, Iowa. This single tenant net lease asset is 100% occupied by Thrive Restaurant Group, who will sign a 5 year lease upon sale. The 4,738 SF building was built in 2019 and sits on 1.69 acres of land.Thrive Restaurant Group, doing business as Applebee's, is a leading restaurant organization that operates a network of over 170 restaurants across 15 states. The company operates a number of successful brands, including Applebee?s, Carlos O?Kelly?s, and HomeGrown. Applebee's has over 1,600 locations across the U.S. and is a subsidiary of Dine Brands (NYSE: DIN), which had a market cap of approximately $712 million as of January 2023. In addition to Applebee?s, Dine Brands includes two other successful national restaurant brands, IHOP and Fuzzy?s.The property sits along NW Arterial, the primary north-south roadway serving Western Dubuque, and benefits from highly visible signage along the roadway. The property sits on a large lot with a considerable amount of frontage on both NW Arterial and Associates Dr. Within a three-mile radius, the average household income is over $106,000 and has experienced steady growth in the past 5 years.Please see OM for more information.
