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Restaurant

Red Lobster

3109 Spotsylvania Mall Dr, Fredericksburg, VA 22407

Listing Price: $6,621,962

Cap Rate
5.25%
Tenant Name
Red Lobster Restaurants LLC
Years Remaining On Lease
21.5
Gross SF
9,316
Guarantor
Corporate Guarantee
Rentable SF
9,316
Price/Gross SF
$710.82
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$37.32

Investment Overview

Marcus & Millichap has been retained to exclusively market a Red Lobster NNN opportunity in Fredericksburg, Va. The property has a brand new 22 Year NNN lease (no landlord responsibilities) and sits just off of exit 3 of Interstate 95 which has an average daily traffic count of 150k vehicles/day. Ideally positioned in a dense retail corridor which has 100+ specialty stores and restaurants, including many national chains like Costco, Macys, JC Penney, HomeGoods, Michaels, Dollar Tree etc. The property is situated as an outparcel to the Spotsylvania Towne Center, directly in front of Costco which boasts > 1.5m shopper visits/year. In addition to the new 22 year lease which provides for annual 2.0% increases, there are an additional four option periods (of five years apiece).

Investment Highlights

  • New 22 year Absolute NNN Lease
  • Corporate Lease guarantee - 600+ locations backing the lease
  • Outparcel to Spotsylvania Towne Centre and just off Plank road which features 83,000 ADT
  • Spotsylvania Towne Centre is part of a dense retail corridor which serves as a dining and retail mecca which hosts over 7.04 million shopper visits/year (placer.ai)
  • Located directly in front of Costco on a huge 1.68 Acre parcel

Exclusively Listed By

  • Chip Collins

    First Vice President Investments

    (201) 742-6124

    Email Chip

    License(s): NJ: 0016571, NY: 10401230649, PA: RSR001965

    New Jersey

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (202) 536-3700

    License(s) VA: 0225247494

    Virginia

Financing By

Listing Price: $6,621,962

Cap Rate
5.25%
Tenant Name
Red Lobster Restaurants LLC
Years Remaining On Lease
21.5
Gross SF
9,316
Guarantor
Corporate Guarantee
Rentable SF
9,316
Price/Gross SF
$710.82
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$37.32

Investment Highlights

  • New 22 year Absolute NNN Lease
  • Corporate Lease guarantee - 600+ locations backing the lease
  • Outparcel to Spotsylvania Towne Centre and just off Plank road which features 83,000 ADT
  • Spotsylvania Towne Centre is part of a dense retail corridor which serves as a dining and retail mecca which hosts over 7.04 million shopper visits/year (placer.ai)
  • Located directly in front of Costco on a huge 1.68 Acre parcel

Investment Overview

Marcus & Millichap has been retained to exclusively market a Red Lobster NNN opportunity in Fredericksburg, Va. The property has a brand new 22 Year NNN lease (no landlord responsibilities) and sits just off of exit 3 of Interstate 95 which has an average daily traffic count of 150k vehicles/day. Ideally positioned in a dense retail corridor which has 100+ specialty stores and restaurants, including many national chains like Costco, Macys, JC Penney, HomeGoods, Michaels, Dollar Tree etc. The property is situated as an outparcel to the Spotsylvania Towne Center, directly in front of Costco which boasts > 1.5m shopper visits/year. In addition to the new 22 year lease which provides for annual 2.0% increases, there are an additional four option periods (of five years apiece).

Exclusively Listed By

  • Chip Collins

    First Vice President Investments

    (201) 742-6124

    Email Chip

    License(s): NJ: 0016571, NY: 10401230649, PA: RSR001965

    New Jersey

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (202) 536-3700

    License(s): VA: 0225247494

    Virginia

Financing By

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