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| Taco Bell (Ground Lease) |
6117 North Fry Road, Katy (Houston), Texas
Purchase Price: $950,000
• Twenty (20) year primary lease
• Four (4) x 5 year option periods
• NNN (Triple Net Lease)
• 10% rent increases every 5 years
Land Area: ± 0.90 Acres, Building Area: ± 3,000 SF |
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Willis Ventures has just closed escrow on another single tenant net leased retail property, Taco Bell in The Katy, Texas. The property sold for $950,000. The Primary lease period is 20 year NNN with four 5-year options.
Yum! Brands, Inc. (NYSE: YUM) or Yum! is the largest fast-food operator in the world in terms of number of locations, with more than 35,000 outlets in more than 100 countries. (It trails only hamburger giant McDonald’s in sales.) Its flagship chains include #1 chicken fryer KFC (with more than 14,800 units), top pizza joint Pizza Hut (about 12,800), and quick-service Mexican leader Taco Bell (more than 5,800). YUM! also operates the Long John Silver’s seafood chain, along with several hundred A&W root beer and burger stands. The company operates a little more than 20% of its restaurants; the rest are either franchised or licensed locations.
The subject property is located in Katy, Texas. Katy is approximately 30 miles west of Houston. Some of the other national tenants in the surrounding area include: Chase Bank, McDonald’s, Wachovia Bank, Washington Mutual, proposed Wal-Mart Supercenter, Bank of America, Sonic Drive In, Subway, T-Mobile Wireless and Kroger.
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