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Restaurant

TGI Fridays

348 Boston Post Rd, Orange, CT 06477

Listing Price: $3,625,000

Cap Rate
7.00%
Tenant Name
Briad Restaurant Group, LLC
Gross SF
7,675
Guarantor
Franchisee Guarantee
Rentable SF
7,675
Price/Gross SF
$472.31
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$33.06

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a TGI Fridays located at 348 Boston Post Road in Orange, Connecticut. This property is subject to a new 15-year triple-net (NNN) lease upon the close of escrow. The offering consists of 7,675 rentable square feet of building space and sits on approximately 2.77 acres of land. The initial annual rent will be $250,000 which will be subject to 1.5 percent annual rental increases with eight, five-year tenant renewal option periods.
TGI Fridays is an American restaurant chain focusing on casual dining. The company is a unit of Sentinel Capital Partners and TriArtisan Capital Partners, who purchased the company in May of 2014. Founded in 1965 in New York City by Alan Stillman, the brand aims to stay true to its roots by being a place for people to socialize, drink, and enjoy tasty American bar food. The concept was an immediate success, and today the brand has grown into more than 900 restaurants across 60 countries worldwide. The Briad Group, headquartered in Livingston, NJ, is one of the fastest growing hospitality companies in the United States. Currently, Briad owns and operates 114 Wendy's Old Fashioned Hamburger restaurants, 55 TGI Fridays restaurants, 16 Zinburger Wine & Burger Bars, and is in the process of developing hotels in New York, New Jersey and Connecticut that will deliver over 1,200 rooms under the Marriott and Hilton Brands.

Investment Highlights

  • Located Approximately Five Miles From New Haven | Second Largest City in Connecticut
  • Yale West Campus | Part of Yale University System | Total Enrollment:12,000 Students
  • 15-Year Absolute Triple Net (NNN) Lease
  • Attractive Rental Increases of 1.5 Percent Annually
  • Recently Remodeled | Significant Capital Improvements Made

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Listing Price: $3,625,000

Cap Rate
7.00%
Tenant Name
Briad Restaurant Group, LLC
Gross SF
7,675
Guarantor
Franchisee Guarantee
Rentable SF
7,675
Price/Gross SF
$472.31
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$33.06

Investment Highlights

  • Located Approximately Five Miles From New Haven | Second Largest City in Connecticut
  • Yale West Campus | Part of Yale University System | Total Enrollment:12,000 Students
  • 15-Year Absolute Triple Net (NNN) Lease
  • Attractive Rental Increases of 1.5 Percent Annually
  • Recently Remodeled | Significant Capital Improvements Made

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a TGI Fridays located at 348 Boston Post Road in Orange, Connecticut. This property is subject to a new 15-year triple-net (NNN) lease upon the close of escrow. The offering consists of 7,675 rentable square feet of building space and sits on approximately 2.77 acres of land. The initial annual rent will be $250,000 which will be subject to 1.5 percent annual rental increases with eight, five-year tenant renewal option periods.
TGI Fridays is an American restaurant chain focusing on casual dining. The company is a unit of Sentinel Capital Partners and TriArtisan Capital Partners, who purchased the company in May of 2014. Founded in 1965 in New York City by Alan Stillman, the brand aims to stay true to its roots by being a place for people to socialize, drink, and enjoy tasty American bar food. The concept was an immediate success, and today the brand has grown into more than 900 restaurants across 60 countries worldwide. The Briad Group, headquartered in Livingston, NJ, is one of the fastest growing hospitality companies in the United States. Currently, Briad owns and operates 114 Wendy's Old Fashioned Hamburger restaurants, 55 TGI Fridays restaurants, 16 Zinburger Wine & Burger Bars, and is in the process of developing hotels in New York, New Jersey and Connecticut that will deliver over 1,200 rooms under the Marriott and Hilton Brands.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

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