Jack in the Box (Ground Lease)
National QSR Ground Lease Investment
Marketing description
The Offering provides the opportunity to acquire a Jack in the Box ground lease pad located within Albany’s primary retail corridor. Jack in the Box has operated at the Property since the building’s construction in 2003 and continues to demonstrate strong performance at this location, with a 22% year-over-year increase in annual visits (per Placer.ai).
The Property operates under a long-term ground lease structure, whereby the tenant owns and maintains the improvements, resulting in stable, passive income with minimal landlord responsibility. Current ground rent of $2.49/SF ($72,702 annually) is approximately 30% below market, providing embedded upside through CPI-based growth at the 2028 extension and a fair market rent reset in 2033.
The site is strategically located near the Pacific Boulevard / Santiam Highway interchange, with direct connectivity to Interstate 5, benefiting from strong visibility and regional traffic exposure within the Willamette Valley.
Investment highlights
Single-Tenant QSR Ground Lease: Jack in the Box on a long-term ground lease provides predictable, low-management income.
Below-Market Rent with Upside: Current rent is ~30% below market, with CPI growth in 2028 and an FMR reset in 2033.
Proven Performance: 22% growth in annual visits and 22+ years of operation highlight site durability.
Prime Retail Location: Core Albany retail corridor near Heritage Mall (3.5M+ annual visits).
Excellent Access: Direct access to Hwy 20, OR 99E, and I-5 (68K+ daily traffic).
Strong Market Fundamentals: Growing, diverse economy with a tight 2.8% retail vacancy rate.
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