Darden Restaurants, Inc. | Cheddar’s Scratch Kitchen | Corporate Guarantee: Clarksville, IN

CORPORATE GUARANTEE: DARDEN RESTAURANTS, INC.1
The absolute NNN lease is corporately guaranteed by Darden Restaurants, Inc., which carries an “Investment Grade” credit rating of “BBB” from Standard & Poors. The company operates over 1,800 restaurant locations (with 8 different restaurant brands) and employs over 160,000 people. The company reported annual revenues in excess of $9.6 Billion in FY 2022 and currently boasts an estimated net worth in excess of $2.19 Billion.

ABSOLUTE NNN LEASE | 11.5 YEARS REMAINING
The subject property is a freestanding single tenant Cheddar’s Scratch Kitchen casual dining restaurant. Cheddar’s Scratch Kitchen is an American restaurant chain owned by Darden Restaurants, Inc. Founded in 1979, the company has more than 172 locations in 28 states. There are approximately 11.5-years remaining on the original 15-year absolute NNN lease, which offers no landlord management or maintenance obligations whatsoever. The lease offers a rare corporate guarantee from Darden Restaurants, Inc. (NYSE: DRI).

ANNUAL RENT INCREASES DURING PRIMARY TERM & OPTIONS
The long-term lease offers 1.5% annual rent increases during the primary term and each of the 4, 5-year option periods.

EXCEPTIONAL RETAIL LOCATION
The subject property is strategically located off Veterans Parkway that is heavily trafficked and garners 19,482 VPD. It is also directly off the exit of Interstate 65 (93,488 VPD) which provides direct access to Downtown Louisville. It is an outparcel to a Walmart Supercenter and Sam’s Club, which includes other national retailers such as Taco Bell, Game Stop and Cricket Wireless. Directly across the street is a Lowe’s Home Improvement, Chick-fil-A and Red Robin. The location is further enhanced to its close proximity to multiple hotels including Home2Suites by Hilton, Candlewood Suites and Suburban Extended Stay. Within less than a 5-mile radius are other accredited retailers such as Target, Best Buy, Hobby Lobby and Bass Pro Shop. Indiana is known as the “Crossroads of America”.

(1) Guarantor, Lease Terms, Building Specifications, and Demographics are estimates. Buyer is responsible for verifying during the Due Diligence process.

IN Broker of Record: Josh Caruana
License: RB14034355