Whataburger - Antioch, TN
Retail | 4.40% CAP | 3,000 SqFt
Marketing description
Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the ground lease interest in the single-tenant Whataburger (the “Property” or “Asset”) located at 4226 Century Farms Terrace in Antioch, TN. The 12.4-year ground lease operates under an absolute NNN lease structure and is subject to 10% rent increases every 5-years, providing investors a hedge against inflation.
The new construction quick-service restaurant is ideally situated within the heart of a master planned mixed-use development known as Century Farms in Nashville, TN. Century Farms is a 300+ acre, mixed-use, master-planned development featuring a wide variety of major retail, office, multifamily and entertainment uses and has achieved zoning for more than 20,000,000 square feet of space.
The development is already home to Tanger Outlets, which opened a 290,000 square foot Outlet Center in October 2023 to 50+ national retail and restaurant concepts, as well as a couple of local staples in Prince's Hot Chicken and Tailgate Brewery. The development is also home to Community Health Systems, which constructed a 6-story, 2,000 employee operations center on-site, a team headquarters for Major League Soccer's Nashville SC, HCA Healthcare's new freestanding Emergency Room and adjacent 60,000 sf medical plaza, Chipotle, PNC Bank, AT&T and 1,200+ units of upscale multifamily.
Broker of Record: Tom Hooper
TN License #: 283775
Investment highlights
- Situated within Century farms 300+ Acre mixed use master planned development (Office, Retail, Multifamily)
- Absolute NNN ground lease structure with zero landlord expense responsibilities
- Newly constructed 12.4-year lease with 10% rent increases every five years and subject to three five-year renewal options
- Situated across the street from Tanger outlets which has over 50 national tenants and attracts over 2.3 million visitors annually
- The asset is adjacent to 550+ units of newly developed multifamily
- 27th largest US restaurant chain in terms of sales
- Direct access to interstate-24 and benefits from high traffic counts of 168,000 vehicles per day
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