Investment Highlights
Executive Summary
? New construction (2023) asset with Bojangles latest prototype? Corporately guaranteed lease | Secure investment? Just under 14 years remaining on the base term of the lease | Average CAP of 6.40% over the remaining base term, assuming purchase at List Price? Coupon clipper asset | Absolute NNN lease | Zero Landlord responsibilities? Relocation store | Bojangles recently moved a few parcels down the road to a signalized, hard corner location directly across the streetfrom a Walmart Supercenter-anchored shopping center, which should significantly improve sales? Excellent access and visibility from Main St which boasts ?41,700 VPD? Rapidly-growing concept | Bojangles opened 40 locations in 2023 and ended the year with over 270 units in its pipeline? Ideal retail corridor | Site is adjacent to ALDI and a new Sam?s Xpress Car Wash while being directly across the street from a WalmartSupercenter-anchored center | Walking distance to: ? Southwood Square Shopping Center | A Planet Fitness and Citi Trends-anchored center ? A Food Lion-anchored shopping center ? National tenants such as Walgreens, Burger King, Chipotle, Bank of America, AT&T, Verizon, Taco Bell, Wendy?s, Hibbett Sports, McDonald?s, among others? Strong Hedge Against Inflation | There are 1.25% annual rent increases throughout the initial term and options, allowing the investment to keep up with rising market rents? Bojangles is one of the most popular and fastest-growing quick service restaurant brands in the Southeast and operates over 830 restaurants throughout 17 states ? Ranked #4 in the Chicken Category by Entrepreneur Magazine ? Ranked #32 in QSR?s Top 50 Fast Food Chains ? Ranked #43 in Technomic?s Top 500 ? Ranked #57 in Franchise Times? Top 400 ? Ranked #115 in Entrepreneur Magazine?s Top 500 ? AUV of $2.2MM+
