SOLD - Las Vegas, NV - Raising Cane's

Las Vegas, NV

Project Status: In Progress

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land and building) in a newly constructed absolute NNN leased, corporate guaranteed, drive-thru equipped, Raising Cane’s, investment property located in Las Vegas, NV.  The tenant, Raising Cane’s Restaurants, LLC, signed a brand new 20 year and 7 month lease with 3 (5-year) options to extend.  The lease features 10% rental increases every 5 years throughout the initial terms and options, steadily growing NOI and hedging against inflation.  The lease is corporate guaranteed and is absolute NNN with zero landlord responsibilities.  The store (grand opening January 2019) will feature state of the art design.  A twenty year lease is extremely rare for the tenant, indicating long-term commitment to the submarket.  Typical lease term for the brand is 15 years.  The lease was originally negotiated with a local franchisee, but was recently acquired by and assigned to corporate.

100% Capital. Non-Recourse.

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