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| Arby's |
NWC Loop 820 & Jacksborro Hwy, Lake Worth, Texas
Purchase Price: $3,259,000
• Twenty (20) year primary lease
• Rent increases by 10% of ground rent every five (5) years
• NNN (Triple Net Lease)
• One ten (10) year option and two five (5) year options.
Land Area: ± 1.336 Acres, Building Area: ± 3,052 SF |
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Willis Ventures has just closed escrow on another single tenant net leased retail property, Arby's in Lake Worth, Texas. The property sold for $3,259,000. The Primary lease period is 20 year NNN with One ten (10) year option and two five (5) year options.
Arby’s Restaurant Group, Inc. (ARG), formerly RTM Restaurant Group, Inc., was acquired by ARG’s parent company, Triarc Companies, Inc. (NYSE: TRY) on July 25, 2005. ARG is the franchisor of the Arby’s brand and operates 779 former RTM and 233 former Sybra restaurants as of October 2, 2005. The combined company operates in 54 distinct markets in 27 states. The total Arby’s system including franchised locations exceeds 3,500 locations serving 229 markets in 48 states in the U.S. and 133 units outside the U.S.
The subject property is located in Lake Worth, Texas. Lake Worth is 8 miles northwest of Fort Worth. Other national tenants in the immediate area around the subject property include: Lowe’s. Home Depot, Applebee’s, Target, Best Western Inn, Block Buster, Wal-Mart, Race Trac, Brookshire’s, Kohl’s. Wachovia Bank, Eckerd, Chili’s, Taco Bell, Jack in the Box, Chevron Gas, 7-Eleven, Wing’s Stop Jiffy Lube, CVS Pharamcy, Staples, Sonic, Albertson’s, and Waffle House.
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