Texas Roadhouse - Glen Mills, PA

1051 Baltimore Pike
Glen Mills , PA 19342-1018

Property Details

  • Property Size (ft2): 7,135

Texas Roadhouse - Glen Mills, PA - Retail for sale

About this space

  • Type: Retail
  • Sub-Type: Shopping Center
  • Tenure: Sale / Purchase
  • Space Available (ft2): 7,135
  • Price ($USD): $2,888,889

JLL is pleased to offer for sale the fee-simple interest in a Texas Roadhouse (the Property or Asset) located in Glen Mills and within the Philadelphia MSA. Situated within an affluent community 20 miles west of downtown Philadelphia, the Property possesses location stability within a dense retail market while also in close proximity to large employers. The immediate area hosts leading national tenants including Costco, Toyota, Target and Home Depot. Nearby employers include State Farm Insurance, Deloitte and Maris Grove Retirement Community. The Asset features more than eight years of term remaining on a triple-net ground lease that features a ten percent rent escalation in January 2022. Leased to Texas Roadhouse on a corporate guarantee, the Asset offers strong in-place tenancy from a restaurant chain with over 560 locations and consistent financial growth.

Amenities


• Leased to Texas Roadhouse (NASDAQ: TXRH), an extremely successful restaurant chain with over 560 locations and a market cap of $4.6 billion
• NNN ground lease structure with more than 8 years of primary term remaining and a 10% rent increase in January 2022
• Lease includes 4, 5-year renewal options with 10% rent escalations in each option
• High barrier-to-entry market in prime retail corridor offers significant intrinsic value
• Affluent suburb of Philadelphia with strong demographic profile of over 80,000 residents and an average household income of $151,699 within a five-mile radius
• Adjacent to Chick-Fil-A, Citizens Bank, Hampton Inn & Suites, Concord Country Club and a regional State Farm office campus
• Can be purchased together or separately from adjacent Citizens Bank property - contact JLL for additional information