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Popeyes, Lawrenceville, GA

Popeyes, Lawrenceville, GA


Investment Summary

Price $2,650,000
Cap Rate
NOI
Lease Term 15 Years
Lease Type Absolute NNN Lease, With Tenant Responsible For All Taxes, Insurance, Maintenance, And Repair, Including Roof, Structure, And Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2023
Building Size ±2,145 SF
Lot Size 1.46 Acres (63,876.60 SF)
Status Closed
Lead Brokers Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN LEASE WITH A STRONG GUARANTY
» New 15-year absolute NNN lease, ideal for an out-of-area investor
» Guaranteed by Purple Square Management, owner and operator of over 245 franchise locations with 280+ by the end of 2023
» 10% rental increases every five (5) years, providing a hedge against inflation
» High-quality 2023 construction featuring a dedicated dual-lane drive-thru for added customer convenience (drive-thru captures 80% of Popeyes business)

POPEYES CONTINUES TO GAIN MARKET SHARE
» Popeyes is the world’s second-largest quick-service chicken concept with 3,705+ units globally, with 3,000+ units in the U.S. and Canada
» Popeyes opened 208 restaurants in 2021 in the U.S. and Canada
» Popeyes has an annual revenue of $579 million (2021) in the U.S. and $5.51 billion system-wide sales
» Popeyes has ramped up delivery significantly in the U.S. resulting in $250M in additional revenue

PROMINENT LOCATION WITH ACCESS TO OVER 236K VEHICLES
» Prominent location at a four-way signalized intersection with access to 45,890 combined vehicles per day
» Located right off Interstate 85 (190,900 AADT) with excellent freeway visibility
» Across from QuikTrip Atlanta Division Office and Shops of Huntcrest (Publix-anchored center), and two miles from Sugarloaf Mills (180+ retailers), the largest outlet mall in Georgia
» Walking distance to Northbrook Middle School (977 students), Ten45 Suwanee Luxury Apartments (298 units), and PCOM Georgia (1,741 students), and five miles Georgia Gwinnett College (10,949 students)

AFFLUENT LOCATION WITH ACCESS TO OVER 6 MILLION PEOPLE IN THE ATLANTA TRADE AREA
» 215,675 residents live within a five-mile radius (21% growth since 2010)
» High average annual household income of $130,536 within one mile
» Average annual income projected to increase 17% by 2027, poising Popeyes and Lawrenceville for significant growth
» Gateway to Downtown Atlanta, the most populous city in Georgia (498,715 residents), and part of the ninth-largest metro area in the U.S. (6.1 million people)
» Georgia’s business climate has been ranked #1 in the nation for the eighth consecutive year by Site Selection and Area Development ranked Georgia the top state for doing business for the seventh year in a row

Property Description

SOLD

» This Popeyes is located prominently right off Interstate 85 (190,900 AADT) at a four-way signalized intersection with excellent visibility and access to 45,890 combined vehicles per day in front of the site
» The property is in a prime location within a dense retail corridor directly across from QuikTrip Atlanta Division Office and the Shops of Huntcrest (Publix-anchored center) and two miles from Sugarloaf Mills (180+ retailers), the largest outlet mall in Georgia
» The site is within walking distance to Northbrook Middle School (977 students), Ten45 Suwanee Luxury Apartments (298 units), and PCOM Georgia (1,741 students). It is also just five miles Georgia Gwinnett College (10,949 students)
» 215,675 residents live within five miles of the property (21% growth since 2010) with a high average annual household income of $130,536 within a one-mile radius and is projected to increase 17% by 2027, poising Popeyes and Lawrenceville for significant growth
» The site is a gateway to Downtown Atlanta, the most populous city in Georgia (498,715 residents), and part of the ninth-largest metro area in the U.S. (6.1 million people)

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