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Restaurant

LongHorn Steakhouse | 15-Years Remaining | Baltimore MSA | Within Synergistic 108-Acre Development

2697 Compromise St, Bel Air, MD 21014

Listing Price: $3,084,112

Cap Rate
5.35%
Tenant Name
LongHorn Steakhouse
Years Remaining On Lease
15.1
Guarantor
Corporate Guarantee
Rentable SF
5,780
Lease Type
NNN Ground Lease
Rent Per Square Feet
$28.55

Investment Overview

The Tenant, LongHorn Steakhouse, is part of the Darden Restaurant Group, a publicly traded company with an investment-grade “BBB” rating from S&P. LongHorn Steakhouse is subject to a new 15-year ground lease with an anticipated opening on March 1, 2025. The lease includes rental increases of 10% every five years during the base term and in each of the four, five-year option periods, providing an excellent hedge against inflation. LongHorn Steakhouse will operate in a 5,780 square-foot building as a full-service, casual dining restaurant with a liquor license allowing beer, wine, and liquor sales. The improvements to the property were constructed at the tenant’s expense, further enhancing the strength of the collateral.

Investment Highlights

  • New 15-Year Corporate Darden Ground Lease
  • 10 Percent Rental Increases Every Five Years
  • Site has Drawn Strong National Tenant Interest Including Olive Garden, Starbucks, Chipotle, Tropical Smoothie and Others

Exclusively Listed By

  • Jeffrey Pensak

    Associate

    (202) 536-3760

    Email Jeffrey

    License(s): MD: 681663, PA: RSR005189, VA: 0225261924

    Washington, D.C.

  • David S. Crotts

    First Vice President Investments

    (202) 536-3757

    Email David

    License(s): MD: 652010, VA: 0225208906, DC: SP98374073

    Washington, D.C.

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

Financing By

Restaurant

LongHorn Steakhouse | 15-Years Remaining | Baltimore MSA | Within Synergistic 108-Acre Development

Listing Price: $3,084,112

Cap Rate
5.35%
Tenant Name
LongHorn Steakhouse
Years Remaining On Lease
15.1
Guarantor
Corporate Guarantee
Rentable SF
5,780
Lease Type
NNN Ground Lease
Rent Per Square Feet
$28.55

Investment Highlights

  • New 15-Year Corporate Darden Ground Lease
  • 10 Percent Rental Increases Every Five Years
  • Site has Drawn Strong National Tenant Interest Including Olive Garden, Starbucks, Chipotle, Tropical Smoothie and Others

Investment Overview

The Tenant, LongHorn Steakhouse, is part of the Darden Restaurant Group, a publicly traded company with an investment-grade “BBB” rating from S&P. LongHorn Steakhouse is subject to a new 15-year ground lease with an anticipated opening on March 1, 2025. The lease includes rental increases of 10% every five years during the base term and in each of the four, five-year option periods, providing an excellent hedge against inflation. LongHorn Steakhouse will operate in a 5,780 square-foot building as a full-service, casual dining restaurant with a liquor license allowing beer, wine, and liquor sales. The improvements to the property were constructed at the tenant’s expense, further enhancing the strength of the collateral.

Exclusively Listed By

  • Jeffrey Pensak

    Associate

    (202) 536-3760

    Email Jeffrey

    License(s): MD: 681663, PA: RSR005189, VA: 0225261924

    Washington, D.C.

  • David S. Crotts

    First Vice President Investments

    (202) 536-3757

    Email David

    License(s): MD: 652010, VA: 0225208906, DC: SP98374073

    Washington, D.C.

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

Financing By

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