Investment Highlights
Brand New 15-Year Lease | Scheduled Rental Increases | April 2024 Opening | Established Tenant | New Construction
Lake Square Mall (728,000 SF) | Dense Retail Corridor | Strong National/Credit Tenant Presence
Strong Demographics in 5-Mile Trade Area
Absolute NNN | Leased Fee Ownership | Zero Landlord Responsibilities
Near Signalized, Hard Corner Intersection | Drive-Thru Equipped Excellent Visibility & Access
Executive Summary
SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, freestanding, drive-thru equipped, Chick-fil-A investment property located in Leesburg, Florida. The tenant, Chick-fil-A, Inc., recently signed a brand new 15-year lease with 13 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. The asset is scheduled to open in April of 2024. In addition, the site will feature a newly constructed, drive-thru equipped building with modern amenities and design. Chick-fil-A serves freshly prepared food in more than 2,774 restaurants in 50 states, Washington, D.C., and Canada.
