This listing is under contract.
Just Listed: Farmer Boys GL Gilbert, AZ | $2.7M | 20 Year Abs NNN Lease | Pad to New Fry's (Kroger) Center
1535 N Higley Road
Gilbert, AZ 85234
UNDER CONTRACT FOR SALE NNN Property
Property Type:Single Tenant Retail (NNN)
Last Verified:Apr 23, 2021
• Brand-new single-tenant investment opportunity, offering a 20-year absolute triple-net (NNN) ground lease with no landlord responsibilities. • Attractive 10% rental increases every five years in the initial term and throughout the four, five-year options. • Farmer Boys® was founded in 1981. After over 35 years of serving award-winning burgers, there are nearly 100 restaurants in California, Arizona and Nevada. This Gilbert location is Farmer Boys® first in Arizona with additional locations underway. • The Property is located at City Gate Marketplace, a brand-new ±19-acre development comprised of ±165,000 square feet of retail and restaurants to include Fry’s Marketplace (Kroger), Bank of America, MOD Pizza, Cafe Rio, and more. • Nearby national retailers include Safeway, Walmart Supercenter, At Home, Sportsman’s Warehouse, McDonald’s, Cracker Barrel, Starbucks, QuikTrip, BMO Harris Bank, AutoZone, Popeyes, Burger King, Raising Cane’s, Del Taco, Wendy’s, Dunkin’, and many more. • Property located in Gilbert, Arizona, one of the fastest-growing cities in the United States with over 63,000 new residents since 2010 (Source: Esri). • Average household income of ±$93,556 in a three-mile radius (Source: Esri). • Less than a mile north of the Property is the Banner Gateway Medical Center, a ±60-acre campus consisting of a hospital with ±177 private rooms and the Banner MD Anderson Cancer Center.