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Available For Sale - Retail

3,198 SF | Show Pricing $

AVAILABILITY DETAILS

Size
3,198 SF
Price/SF
Show Pricing $
Listing ID
SA439983
Notes
Marcus & Millichap is pleased to present the opportunity to acquire a brand-new Raising Cane’s Chicken Fingers in Lufkin, Texas. This listing offers a new 15-year, triple net ground lease with the full lease term remaining. The tenant has five, five-year options to renew with 7.5 percent rent increases every five years throughout base term and option periods. This Raising Cane’s is a brand-new location which is currently under construction. The anticipated opening date is November 1, 2020. The subject property will include a drive thru.

The Raising Cane’s Chicken Fingers brand is consistently ranked among the top restaurants for customer satisfaction and has been named a top 10 brand for craveability and overall reputation. At approximately $3.4 million, Raising Cane’s has one of the highest average unit volumes in the QSR industry. Raising Cane’s currently has more than 500 restaurants in 27 states, Bahrain, Kuwait, Saudi Arabia and the United Arab Emirates. It’s among the fastest growing chains in the industry with multiple new restaurants under construction, including the Subject Property in Lufkin. The chain recently surpassed $1.5 billion in annual sales, tripling in size in just four years.

The subject property is located off South 1st Street with a daily traffic count of more than 36,000 vehicles and is an outparcel to Walmart Supercenter and Sam’s Club. Lufkin is conveniently located 119 miles north of Houston, and 174 miles southeast of Dallas. This property is located in a very busy retail corridor 2.5 miles from Downtown Lufkin. Raising Cane’s is less than one mile from Lufkin Mall which is anchored by major tenants such as TJ Maxx, Cato and Hibbett Sports. Other surrounding national retailers in the area include Lowe’s, Ashley Furniture Homestore, Tractor Supply Company, Ross, Bed Bath & Beyond, Best Buy, Hobby Lobby, The Home Depot, Target, Buffalo Wild Wings, Chick-fil-A, Red Lobster, Outback Steakhouse, IHOP, Taco Bell, Starbucks and many more.
Uses
Retail

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Barry Wolfe, Wolfe-Lipsky Retail Group of Marcus & Millichap