Bojangles | Top Franchisee | Greenville MSA

Investment Overview

Trinity Partners is proud to serve as exclusive advisor to ownership and present to the marketplace this absolute net lease investment opportunity in the Greenville SC MSA occupied by Bojangles Famous Chicken ‘n Biscuits, a leader in the QSR industry with 850 locations across 20 states and internationally. The Property was developed in 2023 on 1.16 acres with a 2,439 SF drive-thru/dine-in building with patio seating and 35 parking spaces. The 16-year NNN lease commenced in June 2023 with 7% rent bumps every 5 years beginning in 2029 and multiple 5-year renewal options. BOJ of WNC is the #1 operator systemwide and all 125+ locations guarantee the lease.

Investment Highlights

• NEW CONSTRUCTION: Ground-up first-class development completed in 2023
• LONG-TERM NNN LEASE: 16-year primary term with multiple renewal options and ZERO landlord responsibilities
• RENT BUMPS: 7% rent bumps every 5 years beginning in 2029 and in every option period
• CREDIT TENANT: BOJ of WNC is the largest and most profitable franchisee operator in the Bojangles system
• STRONG GUARANTY: All 125+ BOJ of WNC units across 6 states are under one LLC and that LLC is the entity on the lease
• NATIONAL BRAND: Bojangles has 850 locations across 20 states from New Jersey to Las Vegas and internationally in Honduras
• EDUCATION BASE: Palmetto High, Middle, and Elementary Schools (2400+ total students) and Anderson Career & Tech Center (2000+ students) are a few minutes away in opposite directions from the Property
• INTERSTATE ACCESS: I-85, the primary highway thoroughfare through the Upstate region connecting Atlanta and Charlotte, is 6 miles away
• GROWING POPULATION: 6.6% growth since 2020 with a projected annual growth rate of 1.22% in a 5-mile radius
• DYNAMIC REGION: Anchored by Greenville, Spartanburg, and Anderson, the Upstate is a 10-county region with 1.6 million residents, 580 international companies, and a net migration of more than 80 people each day