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|Last Updated Date||26 Jun 2020|
JLL is pleased to offer for sale a freestanding single-tenant property leased to Chuck E. Cheese’s, located in San Antonio, Texas. The lease offers a corporate guarantee from CEC Entertainment, Inc., one of the largest family entertainment operators in the world with over 600 Chuck E. Cheese’s and 150 Peter Piper Pizza locations across 47 states and 14 countries, operating twice as many locations as its 10 closest competitors within the family entertainment industry.
Located near Interstate 410 (197,000+ VPD), the property sits within a highly-trafficked retail thoroughfare that includes the sprawling 1.1 million square feet Ingram Park Mall, Walmart, Best Buy, At Home and Ross Dress for Less. The Interstate 410 corridor also features some of the area’s major employers, including Accenture, Holmes High School, Southwest Research Institute, Texas Biomedical Research Institute, the National Security Agency and a CVS Call Center. This offering presents the opportunity to acquire a property leased to one of the most successful family entertainment operators within the dynamic Northwest retail sub-market of the San Antonio MSA.
• Fee simple interest
• CEC Entertainment, Inc has $908 million annual revenue
• Absolute NNN lease with zero landlord responsibilities, over 14 years remaining
• Four, 5-year renewal options with annual rental increases
• Area’s largest employers help generate a daytime population of over 115,000 people within a 3 mile radius