Whataburger - Houston, TX
Retail | 4.50% CAP | 3,305 SqFt
Marketing description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the ground lease interest in a corporate, new construction Whataburger located at 3929 Southwest Freeway, Houston, Texas (“Property” or “Asset”). Whataburger is operating on a new absolute NNN ground lease with zero landlord responsibilities, 15 years of primary lease term remaining, 10% rent escalations every 5 years in the primary term and in the three, five-year renewal options. This is a relocation of a strong performing Whataburger that was located less than a quarter mile east of this site.
This offering presents investors with an exceptional opportunity to acquire an asset providing secure, long-term cash flow, backed by a leading national retailer.
Investment highlights
- Strong tenancy with 1,050+ locations nationwide
- 15 Years of primary lease term remaining
- Average household income exceeding $186K within a one-mile radius
- 10% rent increase every five years
- 135% daytime population increase
- 24% population increase within one-mile since 2010
- Adjacent to the #2 best U.S. Mall in the U.S. brining in 4.2M visitors
- $3.2M average unit volume
- Adjacent to SW-FWY with accessibility to 318,000+ VPD
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