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| Arby’s |
8611 Westheimer Road, Houston, Texas
Purchase Price: $2,524,164
• 20 year primary lease
• Four (4) x 5 year option periods
• Triple Net (NNN) Lease
• 6% rent increases every 5 years
Land Area: ± 0.86 Acres, Building Area: ± 3,015 SF |
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Willis Ventures has just closed escrow on another single tenant net leased retail property, Arby's in Houston, Texas . The property sold for $2,524,164. This is a NNN lease for twenty years plus option periods.
Arby’s Restaurant Group (ARG) operates the Arby’s fast food eatery chain popular for its hot roast beef sandwiches. Arby’s ranks as the #3 sandwich chain behind Subway and Quiznos with more than 3,700 locations across the US and in a handful of other countries. In addition to roast beef sandwiches, its menu features chicken sandwiches, salads, and some dessert items. More than 1,100 Arby’s locations are company-owned, while the rest are franchised. The chain was started in 1964 by brothers Forrest and Leroy Raffel. ARG is owned by Wendy’s/Arby’s Group.
The subject property is located near the Dunvale Shopping Center in a major retail area of Houston, Texas. Houston is the fourth-largest city in the United States of America and the largest city within the state of Texas. National tenants near this property include: Petsmart, AT&T Wireless, Barnes & Noble Bookstore, Baskin Robbins, Boston Market, Capital One Bank, Chase Bank, Chick Fil A, Chipotle, Cici’s Pizza, DSW Shoes, GameStop, McDonald’s, Michael’s, Panda Express, Panera Bread, Payless Shoe Source, Quiznos Subs, Radio Shack, Ross, Sam’s Club, Sonic Drive In, Sprint Wireless, Subway, Target, The Home Depot, Verizon Wireless, Wachovia Bank, and Wal-Mart.
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