Retail

Hooters | Yuma Palms Regional Center Outlot | Arizona

1519 S. Yuma Palms Parkway Yuma, Arizona United States 85365
Asking Price
Area Size
NOI Net Operating Income
NIY

Documents

Enter the "Deal room" for exclusive documents related to this property.

The Deal Room features confidential documents related to this property. To access the Deal Room, you will need to be logged in. If you don't have an account, please create one. More questions? Visit our FAQ.
I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 2006
Building Area Gross
Land Area Gross ()

Asset Description

Jones Lang LaSalle Americas, Inc. is pleased to offer the opportunity to acquire a Hooters restaurant comprising 8,026 square feet located in Yuma, Arizona (the “Property” or “Asset”). The Property was recently renovated with over $700,000 ($88 PSF) of capital upgrades and premium interior finishes. Yuma Hooters, Inc. (the “Tenant”) is operating on a long-term absolute net lease with 9.6 years of lease term remaining, 2.0% annual rent increases, and zero landlord responsibilities. The Property features an established restaurant group guarantor (Restaurants of America), who has exclusive franchise rights for all Hooters restaurants in Colorado, New Mexico, and Arizona.


Founded in 1983, Hooters is one of the world’s most recognizable restaurant banners operating more than 420 locations in 42 states and 29+ countries. The Property is strategically located on an outparcel of Yuma Palms Regional Shopping Center – the largest shopping center in Yuma MSA – and surrounded by over 1 million square feet of nationally recognized retailers. This Property possesses excellent real estate fundamentals and presents the opportunity to acquire a long-term investment leased to an industry leading restaurant in the heart of Yuma’s primary retail destination.

Investment Highlights

WORLD RENOWN CASUAL RESTAURANT TENANCY

With international brand recognition, Hooters operates more than 420 locations across 42 U.S. states and 29+ countries and territories


Established restaurant group guarantor with exclusive franchise rights to all Hooters restaurants in Colorado, New Mexico, and Arizona


OUTPARCEL TO YUMA PALMS REGIONAL SHOPPING CENTER

Largest shopping destination in Yuma MSA home to leading national retailers such as Dillard’s, JCPenney, Target, Best Buy, PetSmart, and Marshalls


Densely populated area benefiting from hosting thousands of military families who train at the expansive regional military bases


Adjacency to the region’s primary U.S. 95 thoroughfare with direct access to Interstate 8, boasting traffic counts over 34,000 VPD


OPTIMAL NET LEASE STRUCTURE WITH ZERO LANDLORD RESPONSIBILITIES

The Tenant operates on an absolute triple net lease with zero landlord responsibilities


Recently renovated with over $700,000 of capital upgrades, the Asset contains over 9.6 years of primary lease term with 2.0% annual rent escalations


Three, 5-year renewal options with 2.0% rent escalations per year offers an attractive hedge against inflation

Last Updated Date: 12 Jan 2022

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

Last Updated Date: 12 Jan 2022

Do you have any questions?  Visit our FAQ page

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.