Second generation restaurant development with 18+ years remaining, dark NNN lease in place
Opportunity for lease buyout
Strong personal guarantees by restaurant operators
This is an opportunity for an investor to buy a second generation dark restaurant lease for a high yield and either re-tenant at the end of the base term of the lease or negotiate a lease buy-out with the tenant to cut their basis in a restaurant redevelopment opportunity either for an owner/user or one of the many restaurant concepts looking to expand footprint and market share in Florida markets. Tenant remains current on all rent and has franchisee agreements with other concepts providing a mitigation of risk from a personal bankruptcy.
James Garner, CCIM Senior Vice President Investments