SOLD – Texas Roadhouse

THE OPPORTUNITY

• Absolute Ground Lease
• ​Zero Landlord Responsibilities
• ​Corporate Lease
• ​15 Year Initial Term through 12/1/2034
• ​Texas Roadhouse operates 610 locations in 49 states and 10 countries
• ​Publicly Traded Tenant
• ​NASDAQ: TXRH
• ​No rent relief requested throughout 2020
• ​10% Rent escalations every 5 years of initial term
• ​3, 5-year options
• ​10% Rent escalations in every renewal

THE HIGHLIGHTS

• ​Outparcel to Harris Teeter and Home Depot anchored 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 income levels
• ​3 Mile: $91,767
• ​5 Mile: $99,673
• ​New construction (2019)
• ​Relocation within the same shopping center
• ​Moved to North end of the shopping center from the South end
• ​Tenant invested over $3.5M into building and fixtures
• ​Located 11 miles from downtown Charlotte
• ​Population within 5 miles expected to grow almost 7% by 2025
• ​141 total parking spaces (6 handicap)