KFC 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 store has been successfully open and operating since 1983 with an attractive 6.0% rent-to-sales ratio.
The subject property is located in Utica, Michigan, situated just off the hard corner with high drive-by visibility nearby Walmart, Kmart and Big Lots. KFC sits just 4 miles from Lakeside Mall (anchored by Macy’s, Lord & Taylor, Sears & JCPenney), Target, Costco Wholesale, Lowe’s Home Improvement, Meijer, Sam’s Club, Dunham Sports, Dick’s Sporting Goods, Old Navy, Bed Bath & Beyond, Marshalls, HomeGoods, Babies R Us, buybuy BABY, Barnes & Noble, Best Buy, OfficeMax, Hobby Lobby, Michaels, JoAnn Fabrics, PetSmart, Sally Beauty, Harbor Freight Tools, Value City Furniture, At Home, Art Van Furniture, Gardner-White Furniture, Ollie’s Bargain Outlet, Planet Fitness, Dave & Buster’s, and more.
*In Association With: Community Choice Realty | License #6502380502