Net Lease Qdoba For Sale

The Boulder Group is pleased to exclusively market for sale a single tenant corporately guaranteed net lease Qdoba property located within the Grand Rapids MSA. The Qdoba is strategically positioned in a vibrant retail destination along a heavily trafficked street. This is a proven Qdoba location as evidenced by the tenant’s recent decision to exercise their first renewal option. There are over five years remaining on the corporately guaranteed Qdoba lease which expires September 30, 2021. The absolute triple net lease features no landlord responsibilities and one five-year renewal option with a 15% rental escalation. Qdoba is a fast casual Fresh Mex restaurant chain in the United States and Canada serving Mexican-style cuisine with over 600 total locations. Qdoba is a wholly owned subsidiary of Jack in the Box. Jack in the Box is a publicly traded company (NASDAQ: JACK) with a market capitalization in excess of $2 billion.

The Qdoba property is strategically positioned along Alpine Avenue which is the trade area’s primary north-south thoroughfare. Alpine Avenue experiences traffic volumes in excess of 50,000 vehicles per day. The Qdoba is benefitted by its proximity to Interstate 96 which is located immediately to the south of the property. Interstate 96 experiences traffic counts in excess of 64,000 vehicles per day. The property is centrally located within a regional retail destination that features many national tenants. The Qdoba is located directly across the street from Green Ridge Square which a 406,597 square foot power center that is anchored by Target, Best Buy, TJ Maxx, Bed Bath & Beyond and Michael’s. Additional retailers located in the immediate trade area include Walmart, Sam’s Club, Home Depot, Menards, Meijer, Hobby Lobby, Kohl’s and Burlington Coat Factory.

Qdoba recently exercised their first renewal option extending their lease until September 30, 2021. The lease features no landlord responsibilities and a 15% rental escalation in the next renewal option period. Qdoba is a fast-casual Tex-Mex chain with over 600 locations and is a wholly owned subsidiary of Jack in the Box.