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Restaurant

Pollo Tropical Ground Lease (BB's Tex-Orleans Sublease)

25635 US-59, Kingwood, TX 77339

Listing Price: $2,090,000

Cap Rate
5.50%
Tenant Name
Pollo Tropical
Years Remaining On Lease
5.9
Guarantor
Corporate Guarantee
Rentable SF
3,705
Lease Type
NNN Ground Lease
Rent Per Square Feet
$31.03

Investment Overview

The subject property is a single-tenant Pollo Tropical Ground Lease (BB’s Tex-Orleans Sublease) situated just north of the heavily trafficked, signalized intersection of Northpark Drive and Eastex Freeway Road in Kingwood, Texas. The property is an outparcel to a desirable Kroger Marketplace that anchors The Village at Northpark, a 24-acre shopping center with numerous retailers including Chick-fil-A, Panera Bread, McDonald’s, Panda Express, Taco Cabana, Culver’s, Popeye’s, Smashburger, GNC, PNC Bank, ShowBiz Cinemas, Whataburger, Taco Bell, Cracker Barrel, MOD Pizza, and numerous others.

Further enhancing the area is a high concentration of residential, quick access to Interstate 69, numerous other retailers including a H-E-B anchored shopping center, and a variety of area employers including: HCA Houston Healthcare’s Kingwood Facility, Insperity HR Solutions Corporate Headquarters, and Kelsey-Seybold Clinic. Most notably, Northpark Drive is currently undergoing a significant expansion and enhancement project given its one of the most heavily traveled and congested roadways in Kingwood. This new project will benefit the area’s businesses and residents alike. Located 25 miles northeast of Houston, Kingwood is a 14,000-acre master planned community offering a desirable location with numerous amenities.

Investment Highlights

  • Corporate Guaranteed Lease - Authentic Restaurant Brands (ARB) with market-leading, iconic regional brands of Primanti Bros., P.J. Whelihan's, Mambo Seafood, and Pollo Tropical
  • Absolute Triple Net (NNN) Ground Lease – No Landlord expense or maintenance responsibilities
  • Attractive Pricing - Priced well below replacement cost
  • Fixed Rental Increases - 10% Rental Increases every 5 years
  • Favorable Sublease Structure - BB's Tex-Orleans has the right to become Lessee at Lease Expiration at significantly higher rent, increasing the cap rate substantially. Please contact agent for details
  • Excellent Retail Location - Located in The Village at Northpark, a 24acre shopping center anchored by a Kroger Marketplace with numerous retailers including Chick-Fil-A, Panera Bread, McDonald's, Panda Express, Taco Cabana, Culver's, Popeye's, Smashburger, GNC, PNC Bank, ShowBiz Cinemas, Whataburger, Taco Bell and numerous others.
  • Desirable Houston MSA Location – Kingwood is a 14,000-acre master planned community located 25 miles northeast of downtown Houston
  • Excellent Demographics - Average Household Income of $124,703 and 48,991 residents in a 3-mile radius

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Financing By

Restaurant

Pollo Tropical Ground Lease (BB's Tex-Orleans Sublease)

Listing Price: $2,090,000

Cap Rate
5.50%
Tenant Name
Pollo Tropical
Years Remaining On Lease
5.9
Guarantor
Corporate Guarantee
Rentable SF
3,705
Lease Type
NNN Ground Lease
Rent Per Square Feet
$31.03

Investment Highlights

  • Corporate Guaranteed Lease - Authentic Restaurant Brands (ARB) with market-leading, iconic regional brands of Primanti Bros., P.J. Whelihan's, Mambo Seafood, and Pollo Tropical
  • Absolute Triple Net (NNN) Ground Lease – No Landlord expense or maintenance responsibilities
  • Attractive Pricing - Priced well below replacement cost
  • Fixed Rental Increases - 10% Rental Increases every 5 years
  • Favorable Sublease Structure - BB's Tex-Orleans has the right to become Lessee at Lease Expiration at significantly higher rent, increasing the cap rate substantially. Please contact agent for details
  • Excellent Retail Location - Located in The Village at Northpark, a 24acre shopping center anchored by a Kroger Marketplace with numerous retailers including Chick-Fil-A, Panera Bread, McDonald's, Panda Express, Taco Cabana, Culver's, Popeye's, Smashburger, GNC, PNC Bank, ShowBiz Cinemas, Whataburger, Taco Bell and numerous others.
  • Desirable Houston MSA Location – Kingwood is a 14,000-acre master planned community located 25 miles northeast of downtown Houston
  • Excellent Demographics - Average Household Income of $124,703 and 48,991 residents in a 3-mile radius

Investment Overview

The subject property is a single-tenant Pollo Tropical Ground Lease (BB’s Tex-Orleans Sublease) situated just north of the heavily trafficked, signalized intersection of Northpark Drive and Eastex Freeway Road in Kingwood, Texas. The property is an outparcel to a desirable Kroger Marketplace that anchors The Village at Northpark, a 24-acre shopping center with numerous retailers including Chick-fil-A, Panera Bread, McDonald’s, Panda Express, Taco Cabana, Culver’s, Popeye’s, Smashburger, GNC, PNC Bank, ShowBiz Cinemas, Whataburger, Taco Bell, Cracker Barrel, MOD Pizza, and numerous others. Further enhancing the area is a high concentration of residential, quick access to Interstate 69, numerous other retailers including a H-E-B anchored shopping center, and a variety of area employers including: HCA Houston Healthcare’s Kingwood Facility, Insperity HR Solutions Corporate Headquarters, and Kelsey-Seybold Clinic. Most notably, Northpark Drive is currently undergoing a significant expansion and enhancement project given its one of the most heavily traveled and congested roadways in Kingwood. This new project will benefit the area’s businesses and residents alike. Located 25 miles northeast of Houston, Kingwood is a 14,000-acre master planned community offering a desirable location with numerous amenities.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

Financing By

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