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Restaurant

Longhorn Steakhouse | 6 Years Remaining | Proximate to Strong Retail & Tourism Drivers

2310 E Lincoln Hwy, Lancaster, PA 17602

Listing Price: $2,849,524

Cap Rate
5.25%
Tenant Name
Longhorn Steakhouse
Years Remaining On Lease
6.1
Guarantor
Corporate Guarantee
Rentable SF
5,842
Lease Type
NNN Ground Lease
Rent Per Square Feet
$25.61

Investment Overview

The Tenant, RARE Hospitality International Inc, d/b/a LongHorn Steakhouse, has six years remaining on an absolute ground NNN lease with four, five-year option periods. The lease features 10 percent rental increases every five years and is guaranteed by Darden Restaurants, Inc., the premier and world’s largest full-service dining company. Darden Restaurants is publicly traded on the New York Stock Exchange under the ticker “DRI” and has an investment grade credit rating of “BBB” by Standard & Poor’s and “Baa2” by Moody’s.

Investment Highlights

  • Corporate Ground Lease by Investment Grade Tenant
  • Low & Replaceable Rental Rate on High Traffic Road (15,182 VPD)
  • County Seat Location Proximate to Philadelphia & Baltimore

Broker of Record

  • Sean Beuche

    Vice President/Regional Manager

    (215) 531-7000

    License(s) PA: RM424190

    Pennsylvania

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Restaurant

Longhorn Steakhouse | 6 Years Remaining | Proximate to Strong Retail & Tourism Drivers

Listing Price: $2,849,524

Cap Rate
5.25%
Tenant Name
Longhorn Steakhouse
Years Remaining On Lease
6.1
Guarantor
Corporate Guarantee
Rentable SF
5,842
Lease Type
NNN Ground Lease
Rent Per Square Feet
$25.61

Investment Highlights

  • Corporate Ground Lease by Investment Grade Tenant
  • Low & Replaceable Rental Rate on High Traffic Road (15,182 VPD)
  • County Seat Location Proximate to Philadelphia & Baltimore

Investment Overview

The Tenant, RARE Hospitality International Inc, d/b/a LongHorn Steakhouse, has six years remaining on an absolute ground NNN lease with four, five-year option periods. The lease features 10 percent rental increases every five years and is guaranteed by Darden Restaurants, Inc., the premier and world’s largest full-service dining company. Darden Restaurants is publicly traded on the New York Stock Exchange under the ticker “DRI” and has an investment grade credit rating of “BBB” by Standard & Poor’s and “Baa2” by Moody’s.

Broker of Record

  • Sean Beuche

    Vice President/Regional Manager

    (215) 531-7000

    License(s): PA: RM424190

    Pennsylvania

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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