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Del Taco, Conyers, GA

Del Taco

Price $2,400,000
Cap Rate 4.50%
NOI $108,000
Lease Term 20 Years
Lease Type Absolute NNN Ground Lease, with Tenant Responsible for all Taxes, Insurance, Maintenance, and Repair, Including Roof, Structure, and Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2019
Building Size 2,418 SF
Lot Size 0.90 Acres (39,204 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

ABSOLUTE NNN GROUND LEASE WITH RENT INCREASES
» New 20-year NNN ground lease with no landlord responsibilities
» 10% rental increases every five years, providing an excellent hedge against inflation
» Corporate lease to Del Taco (NASDAQ: “TACO”), the second largest Mexican-American quick service restaurant chain by units in the United States, with more than 580 locations
» 2018 marked Del Taco’s sixth consecutive year of system-wide comparable restaurant sales growth

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Excellent visibility and access to 42,700 vehicles per day directly in front of the property on Highway 138
» Immediate access to Interstate 20, the principal route connecting Conyers to downtown Atlanta, with a traffic count of 108,000 vehicles per day near the property
» Located on Conyers’ primary commercial and retail corridor
» Surrounded by notable national tenants, including Kroger, Home Depot, Walmart Supercenter, Target, AMC Theatres, Hobby Lobby, Planet Fitness, Burlington Coat Factory, Best Buy, and many others

CENTRAL LOCATION NEAR MAJOR EMPLOYERS
» Adjacent to Conyers’ primary industrial center, which is home to many of the region’s largest employers, including Acuity Lighting Group (1,100 employees), Hill-Phoenix (810 employees), Pratt Industries (675 employees), and Golden State Foods (600 employers)
» Several schools are nearby, including Rockdale Career Academy (1,900 students), Rockdale County High School (2,163 students), and Heritage High School (1,860 students)
» 85,233 residents with an average household income of $80,303 within a five-mile radius
» Just over one mile from downtown Conyers
» Conyers is the commercial, cultural, government, and retail center of Rockdale County

NEW 2019 CONSTRUCTION WITH DEDICATED DRIVE-THRU
» Built by tenant at tenant’s expense, demonstrating long-term commitment to the location
» Drive-thru provides additional customer convenience and caters to commuter traffic
» New building, limiting near-term deferred maintenance or capital costs



Property Description

The property is strategically located on Highway 138, a principal arterial, with excellent visibility and access to 42,700 vehicles per day. Highway 138 provides immediate access to Interstate 20, which serves as the main route connecting Conyers to downtown Atlanta and experiences a high traffic volume of 108,000 vehicles per day near the property. Located in a dense retail corridor, the property is surrounded by major national retailers and large shopping centers. A Kroger-anchored center is directly across from the property. Within walking distance of the property is Conyers Crossing, anchored by Burlington Coat Factory and Hobby Lobby. Several other retail plazas are located just a short distance away, including Conyers Plaza, which features Walmart Supercenter, Home Depot, PetSmart, Party City, and more. Other notable tenants near the property include Lowe’s, Target, Harbor Freight Tools, AMF, Chick-fil-A, Planet Fitness, Starbucks, Dollar Tree, Belk, Best Buy, AMC Theatres, Publix, and many others.

The property is close to downtown Conyers and Conyers’ primary industrial center, which is home to many of the region’s largest employers, including Acuity Lighting Group (1,100 employees), Hill-Phoenix (810 employees), Pratt Industries (675 employees), and Golden State Foods (600 employers). Several schools are nearby, including Rockdale Career Academy (1,900 students), Rockdale County High School (2,163 students), and Heritage High School (1,860 students). Additionally, the property benefits from an excellent customer base, with 85,233 residents with an average household income of $80,303 within a five-mile radius.

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