Investment Offering
La Crosse, WI - Red Lobster
3333 State Road 16 | La Crosse, WI 54601
8,383
± SF Offering GLADescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, corporate guaranteed, Red Lobster investment property located in La Crosse, WI. The tenant, Red Lobster Hospitality, LLC has approximately 12 years remaining on the lease with 4 (5-year) options to extend. The lease features attractive 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. Red Lobster is corporate guaranteed by Red Lobster Intermediate Holdings, LLC, the world’s largest seafood restaurant with more than 750 locations.
Location
The Red Lobster is located at the signalized, hard corner intersection of State Highway 16/I-90 Alt and State Highway 157 with a combined 75,300 vehicles passing by each day. The property is also less than half a mile from two convenient on/off ramps to Interstate 90 with 40,800 VPD, a heavily trafficked east/west thoroughfare connecting Chicago to Seattle. State Highway 16/I-90 Alt is the primary retail thoroughfare serving the city of La Crosse, WI with notable major retail tenants having
a presence including Walmart Supercenter, The Home Depot, Target, Dick’s Sporting Goods, Ashley Furniture, Best Buy, and Hobby Lobby to name several. This Red Lobster is strategically located adjacent to Valley Square Shopping Center, a 150,000+ SF retail center with national/credit tenants including PetSmart, TJMaxx, Home Goods, and Michaels, further increasing consumer traffic and promoting crossover synergy to the area. Across the street is the Valley View Mall which has recently been acquired by new ownership and features redevelopment plans that include new retail tenants like Hy-Vee, VA Clinic, Five Guys, Mattress Firm, Chick-Fil-A, and Carribou Coffee. The 5-mile trade area is supported by a population of over 64,500 residents with an average household income of $73,000. The immediate 1-mile trade area boasts an affluent average household income of over $86,000 providing a strong direct consumer base from which to draw from.
Documents & Links
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 Offering Memorandum |  |  |
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215