Investment Offering
Grand Prairie, TX - Bojangles
404 Westchase Dr | Grand Prairie, TX
Description
SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, Bojangles investment property located in Grand Prairie, Texas. The tenant, Bojangles Opco, LLC, recently signed a brand new 15-year lease with 5 (5-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual rental increases throughout the initial term and option periods, steadily 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. The tenant invested over $1.5 million into recent capex and remodel of the property. The property is scheduled to open March 2026.
Location
The Bojangles is located on Westchase Dr, right off of Interstate 20, which averages over 193,100 vehicles passing by daily. Westchase Dr is a major retail thoroughfare serving the city of Grand Prairie. The Bojangles is located across from a 107,000+ square foot shopping center, anchored by Fitness Connection. The property is also located less than a mile from a Home Depot and Target anchored shopping center, which includes pads of Chick-fil-A, Taco Cabana, and Chase Bank. The asset is in close proximity to a Walmart Supercenter anchored center, which also includes tenants such as Sam’s Club and Kroger. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Tom Thumb, Ikea, Aldi, Dollar Tree, Whataburger, Starbucks, Popeye’s, Advance Auto Parts, and more, further increasing consumer traffic to the site. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by a population of over 233,300, while the 1-mile trade area boasts an affluent average household income of $134,231.