P.F. Chang's - Laredo, TX
Retail | 6.50% CAP | 6,096 SqFt
Marketing description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the single-tenant, new construction P.F. Chang’s located at 2608 Bob Bullock Loop in Laredo, Texas (“Property” or “Asset”). P.F. Chang’s is operating on a corporate absolute NNN ground lease lease with ±13.9 years of primary lease term remaining with 10% rent escalations every 5 years and four, five-year renewal options. This P.F. Chang’s asset is the brand’s first location in Laredo and the only P.F. Chang’s location for nearly 200 miles.
Investment highlights
15.0-year absolute NNN corporate ground lease with zero landlord responsibilities
Only P.F. Chang's location in more than 200+ miles
Strong first year performance with 7.71% rent-to-sales
Adjacent to Independence Plaza, the #1 most visited shopping center within a 50-mile radius
Strong demand characteristics with 1-mile AHHI of $122K and 98% pop. growth since 2010
Within larger retail development with 13 pad sites
Positioned on high traffic outer loop with direct visibility to 38,000 VPD
P.F. Chang's is ranked as the #22 casual dining chain by sales & units (FSR 30)
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