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|Last Updated Date||28 Jul 2020|
JLL is pleased to offer for sale a newly-constructed 151 Coffee (the “Property or “Asset”) ideally located in Fort Worth, TX. The Property is leased to 151 Coffee to Go, LLC (the “Tenant”), a growing coffee concept in Dallas-Fort Worth that has strong local brand recognition and plans for continued expansion. The Tenant is operating on an absolute net ground lease structure that features zero landlord responsibilities, contractual rental escalations of 10% every five years, and four additional five-year options. This offering presents the opportunity to acquire a single-tenant retail property leased to an expanding drive-thru coffee concept in a booming, regional retail trade area in north Fort Worth, that has seen rapid development and population growth over the past two decades.
- 10-Year Absolute NNN Ground Lease
- Attractive 10% rental increases every 5 years with four 5-year options
- Opportunity to acquire an interest in a growing drive-thru coffee concept with strong brand recognition in Dallas-Fort Worth
- Well-positioned for continued growth in a post-covid era with double drive-thru lanes and a business model catering towards the on-the-go consumer
- Strategically positioned outparcel at The Citadel mixed-use development along I-35 with exposure to over 175,000 vehicles per day
- One of the most highly trafficked retail trade areas in Texas, featuring over two million square feet of retail inventory and a population of over 250,000 within a 5-mile radius
- Shadow anchored by national retailers including Costco, Target, Aldi, WinCo Foods, and future multifamily development.
- Located in AllianceTexas a 26,000-acre master-planned development spanning 40 square miles, home to 61,000 employees, and 525 companies.
- The population within a 5-mile radius has grown 280% since 2000 and includes over 82,900 households. The population is expected to grow by an additional 30,000 residents over the next five years
- Since 2000, the trade area’s commercial and residential inventory has grown by over 165%
- Affluent customer base with an average household income greater than $115,000