The lease features a new 20-year ground lease with 10% rental increases every 5 years, as well as seven 5-year options to extend the lease after the primary term. The ground lease nature affords an investor zero Landlord maintenance or expense obligations, making this an ideal passive investment. The lease is signed by Chick-fil-A corporate, the nation’s top fast food chain 3 years in a row with more than $13.7 billion in total sales in FY2020.The subject property is a new construction outparcel to a successful neighborhood shopping center. The site is positioned on the hard corner and bounded by two busy thoroughfares totaling nearly 53,000 combined vehicles per day (VPD), with multiple ingress and egress points from both streets. The property includes a double-lane drive thru and 97 parking spaces to accommodate demand. The restaurant faces SE Burnside road and enjoys excellent street frontage.The property is located in one of the two primary retail nodes in Gresham, just 15 minutes from Portland. It is surrounded by the primary grocers in the region - Fred Meyer, Safeway, Walmart Neighborhood Market, and Winco. The City of Gresham is experiencing tremendous population and economic growth in recent years, as Portland residents and businesses move east to capture affordability and space. The city’s proximity to Mount Hood also brings an enormous amount of activity to the trade area.
