Raising Cane's at Towne Center Brookhill
Raising Cane's, an STNL with a Brand New 15 Year Lease.
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CBRE National Retail Partners is pleased to offer a single-tenant, new construction Raising Cane’s at Towne Center at Brookhill (the ‘Offering’), located in Westminster, Colorado (Denver MSA). The Offering is a brand new, absolute triple-net ground lease featuring 15 years on the initial lease term plus five (5) five-year renewal options. The lease is corporately secured by Raising Cane’s Restaurants, LLC.
The Offering features a currently under construction Raising Cane’s estimated to be a 3,331-square-foot retail facility with two drive-thru lanes. Located within the Towne Center at Brookhill, a 418,000-square-foot regional shopping center destination with an array of daily need goods and services, discount soft goods merchandise, entertainment and quick service dining options.
The location benefits from an entrance off of West 88th Avenue and high barriers to entry in a entirely built out retail trade area. With convenient access along two of the main traffic arteries in Westminster, West 88th Ave and Wadsworth Blvd, drive by exposure is over 73,370 vehicles per day. This site is just 2 miles from the US 36 and Sheridan Avenue interchange, midway between Denver and Boulder on the US 36 tech corridor.
Founded in Baton Rouge, Louisiana in 1996, Raising Cane’s Chicken Fingers is a privately-held fast-food chain with over 975 locations across the U.S. and worldwide. Known for its high-quality chicken fingers and simple menu, the restaurant’s emphasis is on quality, customer loyalty and community involvement.
Raising Cane’s at Towne Center at Brookhill is being offered free and clear of existing debt on an “As-Is/Where Is” basis.
Investment highlights
Attractive Absolute NNN Ground Lease Structure with Renewal Options
• Brand new 15-year lease with five (5) 5-year renewal options
• Absolute NNN ground lease with 10% increases every 5 years
Irreplaceable Real Estate Fundamentals in an Infill Location
• Strategic location midway between Denver and Boulder on the US 36 Tech Corridor and drive by
exposure to over 73,370 VPD on West 88th Avenue and Wadsworth Boulevard
Anchored by a Highly Visited Regional Shopping Center Destination
• Towne Center at Brookhill accounts for over 2.8M visits over the past twelve months
• Shadow anchored by national tenants: Home Depot, Urban Air, Jersey Mike’s and Mattress Firm
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