3420 Highway 190
Mandeville, LA 70471
Retail Property For Sale

The Boulder Group and Lee & Associates are pleased to exclusively market for sale a single tenant net leased Chili’s located within the New Orleans MSA in Mandeville, Louisiana. The property will be subject to a fifteen year corporate sale-leaseback with an absolute triple net lease. The lease will feature 1.5% annual rental escalations and five 5-year renewal options. The Chili’s is well located along US Highway 190 (56,370 VPD) where it has excellent visibility and access. US 190 leads directly to New Orleans and to Interstate 12 (68,092 VPD). The Chili’s property is an outparcel to a Bed Bath & Beyond, Gap, Barnes & Noble, American Eagle, Victoria Secret, and Banana Republic shopping center. Retailers in the immediate area include Whole Foods, Fresh Market, Lowe’s, Walmart Supercenter, and Home Depot. The property is located near Mandeville High School (2,000 students), Northlake Christian School (800+ Students) and the Tulane National Primate Research Center which drives consistent traffic to the trade corridor. Additionally, the Chili’s property is near Lakeview Regional Medical Center (168 beds). There are approximately 80,000 people living within five miles of the property and have an average household income of $106,560. The lease is guaranteed by Brinker International, Inc. (S&P: BB+) (Moody’s: BA1), one of the world’s leading casual dining restaurant companies with more than 1,600 restaurants. Brinker International serves 1+ million guests every day and has over 100,000 team members worldwide. Chili’s was founded over 40 years ago and is currently operated by Brinker International. Brinker International has a strong commitment to investing in its locations through technology initiatives and store remodels. Chili’s has had a long and successful operating history at this location since 1999 and has strong store sales and a low rent-to-sales ratio.