|
 |
|
| Chili's (Ground Lease) |
Highway 6 and Highway 35 Loop,
Alvin (Houston), Texas
Purchase Price: $770,000
• 8 years remaining on 10 year primary ground lease
• Four (4) x 5 year option periods
• Absolute NNN (Triple Net Lease)
• Rent increases every 5 years
Land Area: ± 1.87 Acres, Building Area: ± 5,500 SF |
|
|
Willis Ventures is excited to announce that our Sales Associate Conor Musgrave has closed escrow on a Chili's in Alvin, Texas. The property sold for $770,000 with a 6.98% capitalization rate.
Brinker International, Inc. (NYSE: EAT) is the world’s #2 casual-dining restaurant operator in terms of revenue (behind Darden Restaurants), with more than 1,800 restaurant locations in some 20 countries. Its flagship Chili’s Grill & Bar chain boasts about 1,300 restaurants and trails only Applebee’s as the largest full-service restaurant chain. Specializing in southwestern-style dishes, Chili’s menu features fajitas, margarita grilled chicken, and its popular baby back ribs. Brinker also operates the Italian-themed Romano’s Macaroni Grill, with more than 240 locations, as well as such smaller chains as On The Border Mexican Grill & Cantina and Maggiano’s Little Italy.
The subject property is located at the intersection of Highway 6 and 35 in Alvin, Texas. Highway 35 has average counts of 30,000 cars per day and Highway 6 has counts of 15,300 cars per day. Alvin is a city in Brazoria County, Texas, United States, within the Houston–Sugar Land–Baytown Metropolitan Area. Some of the other national tenants in the surrounding area include: Advance America Cash Advance, AT&T Wireless, Dollar Tree, First National Bank, McDonald’s, National Tire & Battery Co., Office Depot, Payless Shoe Source, Subway, The Home Depot, Wal-mart.
|
|
