2675 S Beulah Blvd
Flagstaff, AZ 86001
Freddy's | New 15 Year Lease | Great Location · Retail Property For Sale

CBRE and the Net Lease Property Group in Phoenix have exclusively listed the single-tenant Freddy’s Frozen Custard and Steakburgers at 2675 South Beulah Boulevard in Flagstaff, Arizona, (The “Property”). The Property is well located at the crossroads of the I-17 and I-40 Freeways and is across the street from Northern Arizona University. The investment consists of a brand-new 15-year single-tenant absolute triple-net (NNN) lease with Freddy’s Frozen Custard & Steakburgers (dba JRI Management). The tenant, JRI Management is the largest Freddy’s franchisee with 59 locations in 10 states. The lease includes attractive 10% rental increases every five years in the initial term and throughout the four (4), five (5) year options. The Property is made up of +3,091 rentable square feet on approximately 45,302 square feet of land. Freddy’s Frozen Custard & Steakburgers is a fast-casual restaurant franchise, known for premium, lean, ground beef steakburgers and dessert treats, prepared with freshly-churned chocolate or vanilla frozen custard. A privately owned and family-oriented company, their tasty menu items coupled with exceptional guest service and industry-leading cleanliness standards are why their guests make return visits. Please see page 8 in the offering memorandum for more details on the successful tenant JRI Management. The Property benefits from a great location in a strong retail corridor. There are more than 844 hotel rooms within a ±0.5-mile radius, approximately 2,831 apartment units within a ±1-mile radius, and national nearby retailers include: Walmart, Bashas’, Target, Sprouts Farmers Market, Buffalo Wild Wings, Red Lobster, Olive Garden, IHOP, Bank of America and many more. The Freddy’s is next door to Northern Arizona University’s (NAU) main campus in Flagstaff, Arizona. The main campus is perched at ±7,000 feet above sea level and is surrounded by the largest contiguous ponderosa pine forest in the world. The university offers ±158 baccalaureate and graduate degree programs, with a total enrollment of ±31,073 students; ±23,140 at the Flagstaff campus, as of Fall 2018. Rated the third-best U.S. college town by the American Institute of Economic Research in 2017, Flagstaff is the world’s first International Dark Sky City and enjoys a four-season climate with an average 288 days of sunshine (Source: usnews.com).