Restaurant
Longhorn Steakhouse
300 Maine Mall Rd, South Portland, ME 04106
Listing Price: $3,578,585
Investment Overview
Longhorn Steakhouse is a wholly owned subsidiary of the Darden Restaurants Group. There are 491 locations with corporate offices located in Orlando, Florida. The subject site offers a true NNN ground lease with the Tenant having exercised both their first and second options, showing their strong desire to be at this location. They’ve been in operation for 28 years. Tenant pays all CAM related charges to Landlord as pass thru to Macy’s with annual reconciliation adjustments as needed
Longhorn Steakhouse
Investment Highlights
- 9 years remaining on NNN ground lease. No landlord responsibilities.
- Original lease commenced 9/2001. Tenant recently exercised their second option early, taking the lease through 8/2029. Shows Tenant's strong desire to remain at location.
- Site has remained open for business during the pandemic with no rent abatement or deferral.
Exclusively Listed By
Broker of Record
-
James M. Koury
Senior Managing Director InvestmentsLicense(s): ME: DB904355
Maine
Listing Price: $3,578,585
Investment Highlights
- 9 years remaining on NNN ground lease. No landlord responsibilities.
- Original lease commenced 9/2001. Tenant recently exercised their second option early, taking the lease through 8/2029. Shows Tenant's strong desire to remain at location.
- Site has remained open for business during the pandemic with no rent abatement or deferral.
Investment Overview
Longhorn Steakhouse is a wholly owned subsidiary of the Darden Restaurants Group. There are 491 locations with corporate offices located in Orlando, Florida. The subject site offers a true NNN ground lease with the Tenant having exercised both their first and second options, showing their strong desire to be at this location. They’ve been in operation for 28 years. Tenant pays all CAM related charges to Landlord as pass thru to Macy’s with annual reconciliation adjustments as needed
Exclusively Listed By
Broker of Record
-
James M. Koury
Senior Managing Director InvestmentsLicense(s): ME: DB904355
Maine
