Properties

Bojangles' (Nashville MSA)

514 Highway 76
White House, TN 37188

PROPERTY SOLD

Property: Investment Sales

Square Footage: +/- 3,808

Acreage: +/- 1.0

Price: $2,425,000

Cap Rate: 6.25%

Anchor Tenants: Kroger (Shadow)

Description:

• 15 year absolute NNN lease commenced March 2015 with 7% rent bumps every 5 years and 3 renewal options (8 year limited guaranty)
• Regional fast-casual restaurant brand founded in 1977 with over 680 locations in 12 Southeast and mid-Atlantic states
• Publicly  traded company (Nasdaq: BOJA) with 24 consecutive quarters of system-wide comparable store sales growth
• Located 25 miles north of Nashville (state capitol) along the I-65 corridor (exit 108)
• Subject property operated by one of the biggest franchisees (45 units) in the system and only franchisee to operate in 5 states (named 2014/2015 Developer of the Year)
• Outparcel to a newly renovated Kroger center and close proximity to the Super Walmart
• Population over 81,000 and average household income over $76,000 in a 10 mile radius
• Daily traffic counts of +/- 17,500 cars on Hwy 76 and +/- 60,500 cars on I-65