Investment Offering
Aubrey, TX - Slim Chickens
750 Union Place | Aubrey, TX 76227
Description
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, Franchisee guaranteed, drive-thru equipped, Slim Chickens investment property located in Aubrey, Texas (Dallas MSA). The tenant, SB LE, LLC (7-Unit Operator), recently signed
a brand new 20-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 7.5% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. With over 100 locations opened and a fanatical following in 26 U.S. states, Slim Chickens is an emerging national and international franchise, leading the “better chicken” segment. Additionally, they have a goal to add more than 600 restaurants over the next decade.
Location
Slim Chickens is located along U.S. Highway 380, which averages 46,900 vehicles passing by daily and is a major retail thoroughfare serving the city of Aubrey. The asset is complete with a drive-thru, providing ease and convenience for customers. On average, stores with drive-thrus experience higher sales than those without. The asset is less than 2 miles west of Windsong Ranch Marketplace, a 273,000 square foot shopping mall with major tenants including Kroger, The Home Depot, Chick-fil-A, and more. The property is in the center of a primary retail corridor with other nearby national/credit tenants including ALDI, Dollar General, Walgreens, and more, further increasing consumer traffic to the site. Strong tenant synergy promotes crossover shopping to the subject property. The 5-mile local trade area is supported by a population of over 161,900 with an affluent average household income of $144,623.
Documents & Links
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 Offering Memorandum |  |  |