Deals
Bonefish Grill – Matthews, NC
THE OPPORTUNITY
- Absolute Ground Lease
- Zero Landlord Responsibilities
- Corporate Lease with Bloomin’ Brands
- Publicly Traded Company
- NASDAQ: BLMN
- Bonefish Grill Has Over 200 Locations Nationwide
- Initial Term Until 9/30/2032
- Relocation Store From Within The Trade Area
- 10% Rent Escalations Every 5 Years Of Initial Term
- 4, 5 Year Options
- 10% Rent Escalations In Every Renewal
THE HIGHLIGHTS
- Outparcel to Harris Teeter and Home Depot shopping center
- Strong Traffic Counts With Over 86,000 Cars Daily
- E Independence Blvd: 57,084
- Hwy 51: 29,126
- Located In Affluent Charlotte Suburb With High Average Household Incomes
- 3 Mile HHI: $91,767
- 5 Mile HHI: $99,673
- New Construction Set To Be Completed in March 2022
- Located 11 Miles From Downtown Charlotte
- Population Within 5 Miles Expected To Grow Almost 7% By 2025
THE DEAL POINTS
- Square Feet: 4,965 SF
- Asking Cap Rate: 4.75%
- Asking Price: $3,158,000
- Year Built: 2021/2022
- NOI: $150,000
- Lease Structure: Ground Lease