STNL Red Robin Gourmet Burgers & Brews
Absolute NNN Ground Lease
Marketing description
Colliers is pleased to exclusively offer for sale a single tenant net-leased Red Robin Gourmet Burgers & Brews located within The Streets of Brentwood – a premier ±358,700 SF open-air retail and entertainment destination located in a high growth trade area in the San Francisco MSA. The property consists of an ±5,618 SF freestanding building positioned on a ±0.92 AC parcel.
Red Robin has been operating at this location since 2009 and recently extended their lease for 5-years through 2029. The asset benefits from an Absolute NNN Ground Lease with zero landlord responsibilities and 10% rent increases every five years, including options, along with frontage on Sand Creek Rd., just off State Route 4 with combined traffic counts in excess of ±86,558 VPD. The Streets of Brentwood is a top-ranked center that offers ample parking and attracts 4.4 million annual visits, with notable anchors and national co-tenants such as Sprouts, AMC Theatre, Barnes & Noble, DSW, Ulta, Bath & Body Works, BJ’s Restaurant & Brewhouse, Black Angus, and more!
Adjacent to the site, there are several notable developments under construction, including a 4-story hotel, Sutter Health Medical, and Dutch Bros Coffee. The Sand Creek Road extension will provide direct access to the center for the affluent and fast-growing city of Antioch – further growing the property’s customer base. With the surrounding trade area growth and adjacent development, this Red Robin provides investors with a stable investment opportunity for years to come.
Investment highlights
National Credit Tenant | Absolute NNN Ground Lease
• Red Robin is a publicly traded company (NASDAQ: RRGB)
• New 5-Year Lease Extension with Two 5-Year Options
• Absolute NNN Ground Lease with Zero LL Responsibility
• 10% rent increases every 5 years, including options
Strategically Located | Destination Retail Location
• Positioned on Sand Creek Rd. and State Route 4 – a main east/ west freeway connecting the property to Antioch, Oakley and Discovery Bay – with over 86,558 VPD
• The Streets of Brentwood is home to a top performing Sprouts and one of only two AMC Theatres within 30-miles
• Other national retailers include Barnes & Noble, DSW, Ulta, MAC Cosmetics, Victoria’s Secret, Express, Bath & Body Works, Orangetheory Fitness, LensCrafters and many more
High Growth Trade Area | Strong Surrounding Development
• Future demand drivers include a 151 room La Quinta / Hawthorne Suites hotel, Sutter Health Medical Building, Dutch Bros Coffee, and two additional future retail pads
• Improved access is under development with the Sand Creek Road expansion – further connecting the property to the affluent and rapidly-growing neighborhoods of Antioch
Affluent Demographics | Robust Housing Pipeline
• The property services an affluent nearby trade area with over ±186,223 residents with an average household income of ±$161,149 within a 5-mile radius
• Significant new housing developments underway, including over 12,000 units in the pipeline across East Contra Costa County neighborhoods
• The city of Brentwood has seen a population increase of 26% since 2010 and the trend is expected to continue
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