Chick fil A | Brand New Construction | NNN Ground Lease
22-Acre Mixed-Use Dev. | 15 Year Absolute NNN Ground Lease | New Construction
Marketing description
KLNB Retail Capital Markets is pleased to offer for sale a single-tenant ground leased Chick-fil-A that is currently under construction and located at 4015 Mountain Road located in Pasadena, Maryland. The property is scheduled to be open in September of 2025 with a new 15-year ground lease and no landlord responsibilites. The tenant has eight, five-year options and there are 10% rental increases every 5 years in the base term and option period. This is one of the first buildings to be delivered in the future 22-acre Jacobsville Town Center. Situated at the hard corner of Mountain Road and Magothy Beach Road, this property offers a strategic location with high visibility and traffic flow of 20,000+ vehicles per day. The lease is corporately guaranteed and with over 3,000 locations across 48 states, Canada and Puerto Rico, Chick-fil-A proves to be a trusted and reliable tenant for long-term stability.
Investment highlights
NEW CONSTRUCTION PROTOTYPE CHICK-FIL-A
Long-term NNN Ground Lease with 15-years remaining and attractive 10% increases every 5 years, including in eight (8) option periods, ensuring steady, reliable, and hands-free cash flow growth hedging against inflation
New construction pad-site built to industry specifications with multi-lane drive thru
In 2024, QSR Magazine ranked Chick-fil-A as the #3 QSR in the country, along with Franchise Times Magazine ranking it as the 6th largest franchise company in the U.S.
Chick-fil-A reported $21.6 billion in sales in 2023, a near 15% increase from 2022, while nearly doubling its total sales volume from its 2018
PRIME FRONTAGE IN PLANNED MIXED-USE DEVELOPMENT
Chick-fil-A is one of the first buildings to be delivered in Jacobsville Town Center, a 22-acre mixed-use development which includes 264 age-restricted condominium units, divided into eleven 24-unit buildings constructed by NVR, and additional soon-to-be announced retail pads and small suite retailers
Chick-fil-A is positioned at the hard corner of Mountain Road (13,274 VPD) and Magothy Beach Road (7,809 VPD), two primary connector roads to Paul T Pitcher Memorial Highway (MD-100) with 23,375 VPD, allowing for prime accessibility to the retail corridor
First Chick-fil-A in the submarket with the next two closest locations along Governor Ritchie Highway in Severna Park and Pasadena, both over 5 miles and a 10-minute drive from the subject property
HIGH GROWTH COMMERCIAL CORRIDOR IN THE JACOBSVILLE SUBMARKET OF PASADENA
Chick-fil-A is located along Mountain Road, the primary commercial roadway for Pasadena with adjacent centers Lake Shore Plaza and Lake Shore Crossroads, with national tenancy including Safeway, Giant, Ace Hardware, Chipotle, and Dollar General
Additional freestanding retailers, CVS and the YMCA, paired with other retailers, create a destination retail environment for the Jacobsville neighborhood
The corridor will continue to increase in density with NVR’s condominium development at the corner of Magothy Beach Road and Mountain Road
TOP CALIBER ASSET IN DESIRABLE ANNE ARUNDEL COUNTY
Anne Arundel County is centrally located between Baltimore and Washington, D.C., is home to 570,000 residents, and known for superior quality of life on the Chesapeake Bay and a lower cost of living compared to neighboring Montgomery County
Fitch, Moody’s and Standard & Poor’s all rate Anne Arundel County with an AAA bond rating, citing strong fiscal management, low long term debt liability, and superior operating performance, displaying the long-term stable outlook for the county and its economy
Wealthy consumer base of 57,110 residents within a 3-mile radius, earning average household income of $158,066, set to increase at a rate of 2.67% per annum through 2029
High barrier to entry submarket; extremely difficult to develop in and get drive-thru locations approved
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