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JLL is pleased to exclusively offer for sale the interest in a Take 5 ground lease (the “ located in Hammond, LA This investment opportunity offers a truly passive income structure featuring a corporately backed absolute NNN ground lease with 8 years of lease term remaining, zero landlord responsibilities and annual contractual rental increases The Property is leased to Take 5 (the “ one of the largest quick lube chains in the US with nearly 600 shops across 18 states and Canada The tenant extended the lease for an additional 10 years in 2019 demonstrating its dedicated to the location This Property possesses strong real estate fundamentals and offers a rare opportunity to acquire an industry leading brand in a strategically located southeastern city.
- 8+ year lease (extended in 2019) with no landlord responsibilities
- Corporate guaranty from Driven Brands, the BBB- rated parent of Take 5
- Dense location in Hammond's main retail corridor with maximum exposure to 50,000 VPD
- Lease provides for 2% annual escalations offering a hedge against inflation