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Asking Price
NOI Net Operating Income
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Year Built 2020
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Property Description

JLL is pleased to offer for sale the fee simple ground lease interest in a freestanding single-tenant Raising Cane's located in Baldwin Park, CA. Raising Cane‘s Restaurants, LLC is the corporate parent of the Raising Cane's chicken empire that has been ranked as one of the best and most profitable restaurants in the quick-service industry. The tenant has an absolute NNN ground lease with no landlord responsibilities and located as an outparcel to the 100% occupied Sierra Shopping Center anchored by Target.


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Investment Highlights

The tenant operates on an absolute NNN ground lease with no landlord responsibilities

There are 15 years of lease term remaining with 3, 5-year and 1, 4-year options to renew and 10% rental escalations every 5 years

The asset resembles Raising Cane’s new 2020 prototype featuring two drive-thru lanes, which are critical in today’s COVID economy

The lease is backed by a corporate guarantee from Raising Cane’s Restaurants; Business Insider named Raising Cane’s the Top Restaurant Chain of 2017

Raising Cane’s had nearly $1.5 billion in sales during 2019, up 25% year over year from 2018, and an average comparable store sales of $3.6 million in 2019 which ranked 3rd in the QSR industry

The asset is situated as an outparcel to the +/-220,000 square feet Target-anchored retail center that is 100% occupied with other national retailers Bob’s Furniture, Party City and Food 4 Less

Located near the intersection of Francisquito Avenue and Baldwin Park Boulevard the Asset has frontage and visibility to over 49,000+ VPD

Last Updated Date: 19 Nov 2020
Adam Friedlander
Adam Friedlander
Director, Capital Markets
License details
CA - 1806555
Eric Cline
Senior Analyst, Production Support

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Last Updated Date: 19 Nov 2020

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