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Jones Lang LaSalle Americas, Inc. ("JLL"), a licensed real estate broker is pleased to offer for sale a ground lease to a freestanding, single-tenant Original Roadhouse Grill (the “Property” or “Asset”) located in Springfield, Oregon. This offering features a parcel in the #1 Shopping Center by annual visits in the Eugene-Springfield MSA and includes a lease to a tenant operating on a 13-year lease with zero landlord responsibilities and 10% rental increases every five years throughout the primary term and two renewal options. The site sits within a major growth market due to the favorable macro-economic environment in both Springfield and the state of Oregon. The site is a top-performing Original Roadhouse Grill by annual sales, on track for $2.2MM for the 2021 year.
- Absolute NNN lease with no landlord responsibilities
- 8-Unit operator expanding to new markets
- Top-performing site by annual sales across portfolio
- Pad site in 99th percentile shopping center by annual visits
- Below market rent that has exposure to 123,000 VPD
- Adjacent to I-5 and major traffic from the 820,000 SF retail center
- Proximity to University of Oregon and its 25,000 students & 5,300 employees