26805 I-45 Fwy
Spring, TX 77380
LongHorn Steakhouse · Retail Property For Sale

The LongHorn Steakhouse property is strategically located in a regionally dominant retail corridor within the Houston MSA. The property has excellent visibility along Interstate 45 (116,980 VPD) which leads to downtown Houston. The Longhorn steakhouse is positioned just of south of The Woodlands Mall which is a premier fashion and shopping center in north Houston. The Mall is 1,350,000 SF and anchored by Dick's Sporting Goods, Dillard's, Forever 21, JCPenney, Macy's, Nordstrom, Apple. Other retailers in the trade corridor include Whole Foods, H-E-B, Target and Walmart. The property is also near Market Street, an award-winning mixed-use town center featuring retail, restaurant, cinema and office with tenants including Tiffany & Co., Kate Spade, Club Monaco, Tory Burch, Suit Supply and the 70-room boutique Hyatt Centric hotel. Additionally, LongHorn Steakhouse is located near Memorial Hermann The Woodlands Medical Center (351 bed hospital) and Oak Ridge High School (4,119 students) which drives continual traffic to the trade corridor. There are 158,877 people living within five miles of the property and have an average household income of $121,467. There will be ten years remaining on the corporately guaranteed LongHorn Steakhouse lease upon close of escrow. The lease will feature 1.5% annual rental escalations and require no landlord responsibilities. Additionally, there will be five 5-year renewal option periods. The 6,256 SF LongHorn Steakhouse property features a low rent per square of $20.22. The tenant will be RARE Hospitality International, Inc., a wholly owned subsidiary of Darden Restaurants, Inc., doing business as LongHorn Steakhouse. Darden Restaurants, Inc. (NYSE: DRI) is a multi-brand restaurant operator.