Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the fee simple interest in two (2) newly-renovated standalone Grill Pollo locations throughout the Little Rock, Arkansas MSA. Grill Pollo (the “Tenant”) is an emerging QSR concept that focuses on delivering fresh-from-the-farm Latin-inspired chicken varieties - operated by several restauranteurs with decades of experience, including a former Chick-Fil-A executive. These locations will be Grill Pollo's 3rd and 4th sites to open, with stated plans to open several more sites by year-end 2022.
The tenant recently executed 20-year Absolute NNN Leases all with annual 2.00% rental increases and 4 x 5-year renewal options at each site. The leases also benefit from strong joint personal guaranties from the owners – who have a combined net worth over $83.4 million to support the business and underlying lease obligations.
BROKER OF RECORD: RUSSELL WESTLAKE LICENSE #: AR - PB00065848
STRATEGIC REAL ESTATE POSITIONING
- The Hot Springs site is situated on W Grand Avenue / Central Avenue with frontage to over 50,000 VPD. Additionally, it is less than one mile north of Hot Springs National Park - the largest attraction in the state with more than 1.5 million visitors annually.
- The Jacksonville site is directly adjacent to Highway 167, a major US interstate, and is also located within a dense retail corridor nearby blue-chip retailers such as Walmart, Starbucks, and T-Mobile to name a few
STRONG JOINT GUARANTY & NET LEASE STRUCTURE WITH ANNUAL INCREASES
- The Property is subject to a guaranteed 20-year Absolute NNN lease with annual 2.00% increases, providing a steady income stream and a strong hedge against inflation with no landlord responsibilities.
- The Joint Guarantors combine for a net worth of $83.4M as of December 2021
- The lease includes four 5-year extension options.
FAST GROWING, EMERGING QSR TENANCY
- Grill Pollo is expanding its operations across the state of Arkansas, opening twelve new locations in 2022.
- The founders of Grill Pollo have partnered with several restauranteurs with decades of experience, including a former Chick-Fil-A executive to bring the CFA operational expertise to the Grill Pollo concept.