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MCALISTER’S DELI SALE-LEASEBACK, Longview, TX

MCALISTER’S DELI SALE-LEASEBACK

TX, USA

Price $2,991,000
Cap Rate
NOI
Lease Term 20 Years
Lease Type Absolute NNN, with Tenant Responsible for All Taxes, Insurance, Utilities, and Maintenance, Including Roof, Structure, and Parking Lot
Rental Increases 5% Rental Increases Every Five (5) Years
Year Built 1998
Building Size 3,703 SF
Lot Size 0.75 Acres (32,322 SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
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

LONG-TERM ABSOLUTE NNN LEASE WITH RENTAL INCREASES
» 20-year sale-leaseback effective upon closing, demonstrating tenant’s long-term commitment to the location
» Leased to The Saxton Group, the largest McAlister’s Deli franchisee, with 79 McAlister’s Deli locations
» The Saxton Group has been ranked by Restaurant Finance Monitor as one of the 100 largest franchisees of any brand in the United States
» No landlord management, ideal for an out-of-area investor
» 5% rental increases every five years, providing a hedge against inflation

TOP PERFORMING LOCATION IN DENSE RETAIL CORRIDOR
» Top performing store with low rent-to-sales-ratio
» Excellent visibility and access to 58,693 vehicles per day at signalized intersection
» Across from Longview Mall, one of only two major malls in East Texas and the only regional mall within a 60-mile radius

CLOSE PROXIMITY TO MAJOR SCHOOLS AND EMPLOYERS
» Directly adjacent Longview High School, the largest of Longview’s three high schools, with 2,139 students and 207 staff members
» Across from Convergys contact center, with 530 employees
» Just over a mile from Longview Regional Medical Center, a 230-bed hospital with 1,032 employees
» Minutes from downtown Longview and CHRISTUS Good Shepherd Medical Center, a 425-bed hospital that is also the largest employer in the Longview area, with 2,529 employees

PRIME LONGVIEW MSA LOCATION
» Longview is the center of economic activity for a significant part of Northeast Texas and has a trade area population of 411,087
» The Longview area is experiencing gains in population and an increase in commercial and residential construction activity
» Dollar General is currently constructing its newest distribution center in Longview, which is expected to create approximately 400 new jobs


Property Description

SOLD

The property is conveniently located just off of the signalized intersection of Judson Road and Loop 281, with excellent visibility and access to 58,693 vehicles per day. Located in a dense retail corridor, the property is across from Longview Mall, a shopping mall anchored by JCPenney, Dillard’s, Stage, and Sears. As one of only two major malls in East Texas—and as the only enclosed regional mall serving the Longview market—Longview Mall serves a regional trade area with a population of more than 290,000. The property is surrounded by several other large shopping centers and major
retailers, including Walmart Supercenter, Burlington Coat Factory, Hobby Lobby, Pier 1 Imports, AT&T, Albertsons, Petco, Academy Sports + Outdoors, AMC Theatres, Home Depot, and Lowe’s amongst many others.

The property is centrally located and benefits from a strong customer base in the surrounding area. The property is directly adjacent to Longview High School, the largest of Longview’s three high schools, with 2,139 students and 207 staff members. Several large employers are located nearby, including Convergys, which is located across from the property and has 530 employees at its Longview contact center. Just over a mile from the property is Longview Regional Medical Center, a 230-bed hospital with 1,032 employees. The property is also approximately three miles from downtown Longview and CHRISTUS Good Shepherd Medical Center, a 425-bed hospital that is also the largest employer in the Longview area, with 2,529 employees. Additionally, the property is near several housing developments, including an upscale golf course community just one mile from the property.

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