This property has a brand new 20 year Absolute NNN lease with 5% rental escalations every 5 years and two 5 year renewal options. The tenant, KBP Foods, is the largest KFC franchisee in the US that operates 550+ locations in 20 states and will generate sales in excess of $500M in 2017. FQSR, LLC is the tenant on the lease, encompassing all restaurant locations. This location is a dual-branded concept consisting of both a KFC & Long John Silver’s, offering a broader list of menu items while attracting a larger customer base. This store has been successfully open and operating since 2000 with an attractive 7.25% rent-to-sales ratio.
The subject property is located in Fort Gratiot Township, Michigan, in the dominant retail corridor on the hard corner with high drive-by visibility. The store is less than 1 mile from Birchwood Regional Mall (a 790,000 SF enclosed shopping mall anchored by Target, Macy’s, Carson’s & JCPenney), Kroger, The Home Depot, Lowe’s Home Improvement, Kohl’s, and more. Other nearby retailers include Walmart Supercenter, Meijer, Tractor Supply Co., Hobby Lobby, Dick’s Sporting Goods, Ulta Beauty, Best Buy, etc.
*In Association With: Community Choice Realty | License #6502380502