Carl's Jr.

Investment Overview

Over 2 years remaining on this absolute net ground lease to Carl’s Jr., backed by Carl Karcher Enterprises, Inc., a subsidiary of CKE Restaurants Holdings, Inc. (CKE), one of the largest QSR operators in the world. The subject property serves as a primary outparcel to Park Plaza – a 525K SF power center that ranks in the top 15% of shopping centers nationwide in terms of annual visits (per Placer.ai).

Investment Highlights

• 2+ years remaining on corporate ground lease with four, 5-year options to extend
• Below-market replaceable ground rent leaving owner with backfill optionality if tenant were to vacate
• Longstanding operating history – 17+ years at this location
• Direct ingress/egress from W 1800 N with drive-thru window for to-go customers
• Affluent/growing submarket – $123-142K average household incomes and estimated population growth within a 1, 3, and 5-mile radius of the subject property
• Carl Karcher Enterprises, Inc., a subsidiary of CKE Restaurants Holdings, Inc. (CKE), is one of the largest QSR operators in the world with 3,800+ system-wide franchised and company-owned restaurant locations
• The subject property serves as a primary outparcel to Park Plaza – a 525K SF neighborhood center that ranks in the top 15% of shopping centers nationwide in terms of annual visits (per Placer.ai)
• Clinton is approximately 2 miles from Hill Air Force Base – the 2nd largest Air Force base in the country by population and geographical size