|
 |
|
| Jack in the Box |
3020 East 29th Avenue, Spokane, WA
Purchase Price: $1,910,852
• 20 year primary lease
• Four (4) x 5 year option periods
• Triple Net (NNN) Lease
• 8% CPI rent increases every 5 years
Land Area: ± 0.57 Acres, Building Area: ± 3,468 SF |
|
|
Willis Ventures has just closed escrow on another single tenant net leased retail property, Jack in the box in Spokane, Washington. The property sold for $1,910,852 at a 6.10 capitalization rate. This is a corporate NNN lease for twenty years plus option periods. National tenants near this property include: Bank of America, Baskin Robbins, Coldstone Creamery, Dollar Tree, Domino’s Pizza, Goodyear Tires, Hallmark, McDonald’s, Panda Express, Papa John’s Pizza, Petco, Pizza Hut, Radio Shack, Rite Aid, Safeway, Taco Bell, and Wells Fargo Bank.
Jack in the Box (NYSE: JBX) is an American fast-food restaurant founded in 1951. In total, the chain has 2,062 locations in 17 U.S. states, mostly in the western half of the country. Most of the outlets are in California, followed by Texas, Arizona, and Washington. The company also operates the Qdoba Mexican Grill chain and the Quick Stuff convenience store chain. Many Jack in the Box locations are freestanding, while others may be attached to some gas station service centers or at malls and shopping centers. All Jack in the Box locations serve the entire menu, including breakfast, during all operational hours, and many Jack in the Box locations are open 24 hours a day, 365 days a year.
The subject property is located in a central retail corridor in Spokane, Washington. Spokane is the largest city and county seat of Spokane County, and is the metropolitan center of the Inland Northwest. It is located along the Spokane River in Eastern Washington about 20 miles from the Washington-Idaho border, and about 280 miles east of Seattle. A population of 204,400, makes Spokane the second largest city in Washington, and the fourth largest in the U.S. Pacific Northwest, behind Seattle, Portland, and Boise.
|
|
