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net lease claim jumper

Net Lease Claim Jumper Property For Sale

Date March 6, 2017

The Boulder Group is pleased to exclusively market for sale a single tenant net lease Claim Jumper Restaurant located in Tucson, Arizona. The property is strategically located along the primary retail corridor and is an outparcel to El Con Center, a shopping mall anchored by Target, The Home Depot, Walmart, Cinemark Theatres, Ross Dress for Less, Burlington, Marshalls and JC Penney.  The property has 9 years remaining on the lease which expires January 2026. The triple net lease features a 10% rental escalation in the primary term and in the 5-year renewal option period.  Claim Jumper is a casual dining restaurant owned by Landry’s Inc., a privately owned, multi-brand dining, hospitality, entertainment and gaming corporation based in Houston, Texas.

The 14,725 square foot net lease Claim Jumper building on 1.72 acres of land is located along East Broadway Boulevard, the primary east-west thoroughfare in the trade area.  East Broadway Boulevard experiences traffic counts of 50,000 vehicles per day.  Claim Jumper is an outparcel to El Con Center, a 975,000 square foot open-air shopping mall anchored by Target, The Home Depot and Walmart.  Additional outparcel retailers include Office Depot, Firestone Auto Care, Chick-fil-A, In-N-Out Burger and Starbucks.

Across the street from the property are the Randolph Golf Course, Reffkin Tennis Center and Reid Park Zoo.  The Randolph Golf Course is a 36-hole golf course which has hosted a number of PGA and LPGA tournaments. The Reffkin Tennis Center is a nationally recognized facility with 25 outdoor tennis courts.  Reid Park Zoo is a 24-acre city-owned and operated zoo featuring more than 500 animals.  The property is approximately one mile from the University of Arizona campus which has over 43,000 students and 3,100 academic staff.  There are over 125,000 people living within a three mile radius of the property.

There are 9 years remaining on the Claim Jumper lease. The lease expires on January 31, 2026 and features 10% rental escalations in the primary term and in the one 5-year renewal option period. Claim Jumper is wholly owned by Landry’s Inc., a privately owned, multi-brand dining, hospitality, entertainment and gaming corporation based in Houston, Texas.  There are 42 Claim Jumper locations primarily in the Western United States.

 

INVESTMENT HIGHLIGHTS

  • Located within the Tucson MSA
  • 9 years remaining on lease
  • 72 acre parcel
  • 10% rental escalations in primary term and renewal option period
  • Triple Net Lease
  • Located along the primary east-west retail corridor in the trade area (50,000 VPD)
  • Outparcel to El Con Center, a shopping mall anchored by Target, The Home Depot, Walmart, Cinemark Theatres, Ross Dress for Less, Burlington, Marshalls and JC Penney
  • Over 125,000 people living within a three mile radius of the property
  • Approximately one-mile from the University of Arizona’s main campus (43,000 students and 3,100 academic staff)
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