This Retail Property is Off-Market.

8401 Brier Creek Parkway
Raleigh, NC 27617 ·

6,354 SF · Retail For Sale

N/A

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Uno Chicago Grill

Price N/A Cap Rate 7%
Building Size 6,354 SF Tenancy Single
Property Type Retail Year Built 2003
Property Sub-type
Restaurant
More...
  • Free Standing Bldg
  • Retail Pad
  • Anchor
Lot Size 1.32 AC
Property Use Type Investment
Listing ID: 14555903 Date Created: 03/27/2006 Last Updated: 07/09/2006

Description

This is an opportunity to purchase a new 20 year triple-net lease with one of the leading Uno's franchisees in the Carolina market. This restaurant is largely supported by its ideal location and strong demographics with the Average Household Income at $100,000. The lease will be guaranteed by Pizza by Pubs Inc, an entity encompassing five Uno's restaurants. and provides an investor with 7.50% bumps every five years with four five year options. Formerly known as Pizzeria Uno, Uno Chicago Grill now serves great steaks, seafood and a variety of other casual dining favorites, along with the signature Chicago-style Deep Dish Pizza they invented back in 1943. Its locations can be found in 32 states, the District of Columbia, Puerto Rico, South Korea and the United Arab Emirates.

The Subject Property is ideally located at the corner of Brier Creek Parkway and Lumley Road in Raleigh, Wake County, North Carolina. Brier Creek Parkway connects to Route 70, a major causeway running from Durham to Wake Forest. The Subject is shadow-anchored by Brier Creek Commons, a 800,000 square foot power center with nationally recognized tenants like Dick's Sporting Goods, Staples, TJ Maxx, Barnes & Noble, Ross, Target, BJ's, and a state of the art movie theater. The center was constructed on a 100-acre parcel and included over 800,000 square feet of retail space, 4,000 vehicular parking spaces, circulation roads, and sidewalks. The shopping center will ultimately include 42 buildings. Adjacent to the property is the Alexander Place Promenade anchored by Kohls, Petco, and a Walmart Supercenter; and a new grocery-anchored center featuring Lowe's Foods.
Other restaurant pad sites in Brier Creek include Chili's, O'Charley's, McDonald's, Johnny Carino's, Bob Evans, Applebees, and Longhorne Steakhouse.

Directly across from the Property are the Caswyck Brier Creek Apartment Homes, which feature over 250 luxury apartments.

Highlights

  • New 20 Year NNN lease upon COE with 7.50% rent bumps every five years
  • Strong Regional Franchisee with TGI Fridays & Chicago Unos
  • Shadow-Anchored by the Brier Creek Commons, an 800,000 square foot power center anchored by Target and BJ's
  • AHH Income is over $93,500 with a 30% projected population growth within the next 5 years
  • Less than 5 miles from the Raleigh Airport
  • Guaranteed by the parent company of the franchisee

Research

8401 Brier Creek Parkway, Raleigh, NC 27617 (Wake County)

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