SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased Chick-fil-A investment property located in Cypress, Texas. The tenant, Chick-fil-A, has approximately 13 years remaining on their lease with 10 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features 10% rental increases every five years throughout the initial term and at the beginning of each option period, providing steady NOI growth and a hedge against inflation. The lease is structured as absolute NNN with zero landlord responsibilities, as the tenant pays for CAM, taxes, insurance, and maintains all aspects of the premises, making it an ideal, management-free investment for a passive investor.

The subject property is strategically located directly across from a 50,000+ square foot HEB grocery-anchored center and less than 2 miles from a Walmart-anchored shopping center featuring national/credit tenants such as McDonald’s, Whataburger, Sonic Drive-In, IHOP, and Fajita Pete’s. The Chick-fil-A is positioned along a primary retail corridor with strong surrounding tenancy including Popeye’s, Firehouse Subs, Freebirds, Dollar General, Kohl’s, Ross Dress for Less, and many more, driving significant consumer traffic to the area. Strong tenant synergy promoting crossover shopping to the site. The property benefits from excellent visibility and access from Spring Cypress Road (24,500 VPD) and Grant Road (12,000 VPD). The 5-mile trade area is supported by more than 210,190 residents and 55,880 employees with an average household income of $144,070 providing a strong and stable customer base.

Cypress, TX - Chick-fil-A

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<p>Ivy Kwon joined SRS Real Estate Partners in 2017 and is a Senior Marketing Associate in the Newport Beach office. Ivy is responsible for online marketing including social media and email marketing for SRS’ Capital Markets team. She also oversees pipeline management and coordinates events. Before joining SRS, Ivy worked in the entertainment industry doing marketing and merchandising. </p><p>Ivy has a BA degree from Chapman University. </p>

Ivy Kwon

Senior Marketing Associate

Offering Memorandum

Leased - No Current Tenant  - No Expiration Date

A-048664

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Cypress, TX - Chick-fil-A

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Jack Cornell

Matthew Mousavi

Patrick Luther, CCIM