Chili’s Grill & Bar (Corporate Lease): Winston Salem, NC
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 WORLD’S LEADING CASUAL DINING RESTAURANT COMPANIES
Brinker International, Inc., the Guarantor under the Lease, has a credit rating of “BB+” from Standard & Poor’s and “Ba1” from Moody’s.
WELL-ESTABLISHED LOCATION ON A WALMART SUPERCENTER OUTPARCEL
The subject property has a 14-year operational history at this location, situated on East Hanes Mill Road in Winston-Salem, North Carolina. The property is ideally located on an outparcel to a Walmart Supercenter. Other national tenants in the immediate area include Staples, Petsmart, Marshalls, Chick-fil-a, Dollar Tree, Anytime Fitness, Hampton Inn, GameStop, AT&T, Sally Beauty Supply, Mattress Firm, Capital Bank, Zaxby’s, O’Reilly Auto Parts, and IHOP.
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
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.
North Carolina Broker of Record: Benjamin Yelm
License: 303785
