Chili’s Grill & Bar (Corporate Lease): Orlando, fl - West Colonial Drive
NEW 15-YEAR ABSOLUTE NNN LEASE
The subject property operates under an Absolute NNN Lease, with 15-years remaining and no Landlord management or maintenance responsibilities whatsoever.
CORPORATELY GUARANTEED LEASE WITH ANNUAL RENT INCREASES
The Corporate Lease provides 1.5% fixed annual rent increases during the primary term and is corporately guaranteed by Brinker International, Inc. (NYSE: EAT).
LEASE GUARANTOR IS ONE OF THE WORLDS LEADING CASUAL DINING RESTAURANT COMPANIES
Brinker International, Inc., the Guarantor under the Lease, has a credit rating of BB+ from Standard & Poors and Ba1 from Moodys.
WELL-ESTABLISHED LOCATION WITH STRONG DEMOGRAPHICS
The subject property has a 27-year operational history at this location, which is situated immediately off of West Colonial Drive, also known as Highway 50 (51,970 VPD), and located near Home Depot, Sam’s Club, Walmart, CVS, Office Depot, Ross Dress for Less, Holiday Inn Express, Burlington, and Chuck E. Cheese’s. There are strong demographics in Orlando, FL with average household incomes of $64,892 and 265,437 residents within a 5-mile radius of the subject property. In 2017, Orlando welcomed 72 million visitors, marking a 5% increase over 2016, and Walt Disney World Resort alone hosted 55,872,000 guests.
CHILI’S GRILL & BAR AND BRINKER INTERNATIONAL, INC. HIGHLIGHTS(1)
• Founded over 40 years ago and currently owned and operated by Dallas-based Brinker International, Inc.
• Brinker International, Inc. has a credit rating of “BB+” by Standard & Poor’s and “Ba1” by Moody’s
• Generated revenue of approximately $3.14 billion in Fiscal 2018
• 1,632 Chili’s Grill & Bar locations worldwide in 49 states, 32 countries and 2 U.S. territories with more than 100,000 team members worldwide
• As of January 29, 2019, Brinker International, Inc. owned, operated or franchised 1,685 restaurants worldwide, consisting of 995 company-owned restaurants and 690 franchised restaurants across both Chili’s Grill & Bar & Maggiano’s Little Italy brands
• Approximately 50 million Americans visit Chili’s Grill & Bar every three months
• Recognized as one of ”America’s Best Employers” on the 2015 Forbes List and Fortune’s “100 Best Workplaces for Millenials”
• Multiple locations available - Call agent for details
Seller will guarantee Buyer the difference between the current rent and the next rent increase scheduled for August 1, 2019. Income shown reflects proforma rent as of August 1, 2019. The difference in rent will be credited at closing.
(1) Chili’s Grill & Bar is the Tenant under the Lease. Brinker International, Inc. is the Guarantor.
Florida Broker of Record: Ryan Nee
License: BK3154667
