Retail

Taco Bell @ Lockwood Drive - Houston, TX

1484 Lockwood Dr Houston, Texas United States 77020
Asking Price
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NOI Net Operating Income
NIY

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Attributes

Year Built 2000
Building Area Net
Land Area Net ()

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the opportunity to acquire a single-tenant Taco Bell (the “Property”) featuring a NNN ground lease with over 13 years of initial term remaining. The investment opportunity offers a truly passive income structure with zero landlord responsibilities and 10% rent increases every five years throughout the contractual lease term. Located adjacent to US-90, a major Houston thoroughfare, Taco Bell sits on Lockwood Drive with a drive-thru lane off an intersection that sees +41,000 vehicles per day. B&G Food Enterprises (the “Tenant”) is a strong franchise operator that oversees 150 Taco Bell locations across the South. The investment offers a rare opportunity to acquire a national QSR brand on a long-term lease, featuring great visibility and access in a growing Houston market.

Investment Highlights

  • Absolute NNN lease structure with zero landlord responsibilities
  • Leading QSR brand tenancy from Taco Bell
  • 13.5 years of term remaining with four, five year extension options 
  • The Houston MSA was the 3rd fastest-growing metro area in 2020
  • Over 40,000 VPD at the nearby intersection and 300 feet from US-90 (169,000 VPD)
  • Dense surrounding demographics with over 324,000 residents in a 5-mile radius
  • Seasoned franchise operator with 150 Taco Bell locations across the South
Last Updated Date: 01 Feb 2022

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Last Updated Date: 01 Feb 2022

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