1602 Musgrave Blvd
Abilene, TX 79601
Hooters Corporate Saleleaseback - TEXAS · Retail Property For Sale

New Corporate 20 year Sale-Leaseback. Lease will commence at the time of sale. The operator is Hooters of America, Inc (HOA Holdco, LLC) based in Atlanta Georgia. There are over 460 Hooters locations in 44 states and 24 countries. Hooters, Inc. was incorporated in Clearwater, Florida, on April 1, 1983, by six local businessmen. The date was an April Fools' Day joke because the original six owners believed that their prospect was going to fail& and the rest of history. Hooters is private company owned by a consortium of PE companies HIG Capital, Karp Reilly and Chanticleer Holdings that acquired the chain in 2011. Latest prototype building is a new ±6,500 square foot building plus a patio that sits on a ±1.5 acre parcel. This is located in front of a Lowes Home Improvement. This is an Excellent location right off Interstate 20 surrounded by national retailers, restaurants and hotels. Adjacent to this property is a Residence Inn, Comfort Suites, Holiday Inn Express and Marriott Courtyard Hotel. Abilene Christian University is appx 1 mile away with an undergraduate enrollment of over 4,550 students. Opening Sept 2017. Rent will commence at COE, before the opening. Annual rent will be $210,000 with lease rate increases of 8.5% every 5 years including the options. A new 20 year lease will commence at the time of sale. This will be an absolute NNN lease with zero landlord responsibilities. There will be 4 X 5 year options with the lease rate increases. Corporate Lease Guarantor: HOA Holdco, LLC. Abilene is a city in Taylor and Jones counties in west-central Texas, United States. The population was 117,063 according to the 2010 census, making it the 27th-most populous city in the state of Texas. It is the principal city of the Abilene Metropolitan Statistical Area, which had a 2011 estimated population of 166,416. It is the county seat of Taylor County. Dyess Air Force Base is located on the west side of the city. Abilene is located off Interstate 20, between exits 279 on its western edge and 292 on the east. Abilene is 150 miles west of Fort Worth, Texas. The city is looped by I-20 to the north, US 83/84 on the west, and Loop 322 to the east. A railroad divides the city down the center into north and south. The historic downtown area is on the north side of the railroad.