Chick-fil-A Parking Lot
At-A-Glance
SOLD JULY 2024
Represented: Seller & Buyer
Highlights: Generated multiple offers within the first few weeks of marketing and ultimately sourced a local 1031 exchange ALL CASH buyer in very quick 14 day total escrow
Opportunity
Long-term (20 year) absolute NNN ground lease with Chick-fil-A, located in Pasadena (Los Angeles), CA
Highlights
- Brand New 20-Year Absolute NNN Lease featuring scheduled rental increases during the initial lease term and options
- Absolute NNN Lease Structure - Tenant is responsible for everything including base rent, taxes, insurance, CAM
- Ideal 1031 Investment Opportunity for Passive Investor - No Landlord responsibilities whatsoever
- 10% increases Every 5 years through the lease term including options
- Best in Class Tenant - Chic-fil-A is the largest quick-service chicken restaurant chance in the United States, based on domestic annual
sales. Chic-fil-A also maintains a franchisee-turnover rate of less than 5% of a year. Chic-fil-A has also been ranked #1 in customer
satisfaction for the 9th straight year.
- Outstanding Location on the thoroughfare of N Lake Ave - Over 35,000 vehicles per day at the intersection. Lake Ave is a direct exit off
the 210 freeway with 350,000 Vehicles per day.
- Top Tier Los Angeles location - Zoning allows for Commercial, Mixed-Use, Multifamily, Single Family etc.
