Investment Highlights
Corporate-Leased HTeaO; 15-Year Absolute NNN Single-Tenant Drive-Thru Asset in Northern Texas Submarket of Wichita Falls, TX
HTeaO is America?s Largest Iced Tea Franchise & Ranked No. 59 on Inc. Magazine?s 5000 Regionals Southwest List
Strong Fundamentals with Frontage to Southwest Parkway (23,536-VPD), 2,200 SF with Drive-Thru, Highly Visible Two-Sided Pylon Sign & Left Turn Access
Constructed in 2020 with Primary Lease Term Through December 2038; 10% Escalations Every 5 Years Including Each of the Six, 5-Year Renewal Options
Opened 100th Location in January 2024; 530 Franchise Licenses & Growing
Over 3.7MM SF of Retail GLA in a 1.5-Mile Radius Including Sike Senter Mall (670,000+ SF)
Executive Summary
HTeaO is an absolute triple-net (NNN), corporate-leased single-tenant drive-thru asset located in the established northern Texas submarket of Wichita Falls. The tenant has signed a lease through December 2038, guaranteed by the corporate entity TBevCo, LLC. HTeaO is an ideal single tenant asset, designed at 2,200 square feet with a drivethru, providing long-term residual value. The lease features zero landlord responsibilities and includes 10% rent escalations every 5 years, including each of the six 5-year renewal options. The property benefits from frontage on Southwest Parkway, a highly visible two-sided pylon sign, and left-turn access. Neighboring notable retailers include Walgreens, Hobby Lobby, Tractor Supply, Wells Fargo, Whataburger, Taco Casa, Sonic, and Chicken Express, among numerous others.
