Jack in the Box - Albany
Retail | 5.82% CAP
Marketing description
CORPORATE QSR GROUND LEASE INVESTMENT
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 tenant also reports sales.
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. Tenant reports sales.
◊ 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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