Below Market Rent and Land Basis: Olive Garden is paying a below market rent providing future upside for an investor.
Zero Landlord Responsibilities: New 10-year absolute NNN ground lease provides passive ownership structure for the long term.
Investment Grade Credit: Olive Garden is owned by Darden Restaurants, who has an S&P rating of BBB.
Regional Trade Area Draw: Olive Garden is situated as an outlot to Lakeview Square, which draws customers from the entire region to the area. Horrocks (grocery user) and NCG Cinemas anchors the mall and it also features a high performing Applebee’s and Buffalo Wild Wings. Texas Roadhouse and Jimmy Johns are planned as future pad site users.
Dense Retail Trade Area: Olive Garden is positioned in the main retail trade area in Battle Creek, which features other national retailers such as Walmart, Target, Menards, Meijer, Sam’s Club and Lowe’s. The site will also benefit from signage on the instate pylon and new monument sign at the entrance to the mall.
Interstate Proximity: The site sits at the intersection of Beckley and Hwy-66 which combine for over 52,000 VPD. There are also two access interchanges to I-94 nearby which has exposure to approximately 64,000 VPD.
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