Chili’s Grill & Bar (Corporate Lease): Orlando, FL - E. Colonial Dr.
NEW 15-YEAR ABSOLUTE NNN LEASE
The subject property operates under an Absolute NNN Lease, with 15-years remaining and no Landlord management or maintenance responsibilities whatsoever.
CORPORATELY GUARANTEED LEASE WITH ANNUAL RENT INCREASES
The Corporate Lease provides 1.5% fixed annual rent increases during the primary term and is corporately guaranteed by Brinker International, Inc. (NYSE: EAT).
LEASE GUARANTOR IS ONE OF THE WORLD’S LEADING CASUAL DINING RESTAURANT COMPANIES
Brinker International, Inc., the Guarantor under the Lease, has a credit rating of “BB+” from Standard & Poor’s and “Ba1” from Moody’s.
WELL-ESTABLISHED LOCATION WITH STRONG DEMOGRAPHICS
The subject property has a 26-year operational history at this location, which is situated immediately off of East Colonial Drive, also known as Highway 50 (50,160 VPD), and located near Publix Super Market, Burlington Store, Academy Sports + Outdoors, Holiday Inn Express & Suites, Hilton Garden Inn, Comfort Suites, Holiday Inn, Tire Kingdom, Waterford Pointe Luxury Apartments and Hobby Lobby. There are strong demographics in Orlando, FL with average household incomes of $71,663 and 220,984 residents within a 5-mile radius of the subject property. In 2017, Orlando welcomed 72 million visitors, marking a 5% increase over 2016, and Walt Disney World Resort alone hosted 55,872,000 guests.
CHILI’S GRILL & BAR AND BRINKER INTERNATIONAL, INC. HIGHLIGHTS(1)
• Founded over 40 years ago and currently owned and operated by Dallas-based Brinker International, Inc.
• Brinker International, Inc. has a credit rating of “BB+” by Standard & Poor’s and “Ba1” by Moody’s
• Generated revenue of approximately $3.14 billion in Fiscal 2018
• 1,634 Chili’s Grill & Bar locations worldwide in 49 states, 32 countries and 2 U.S. territories with more than 100,000 team members worldwide
• As of June 27, 2018, Brinker International, Inc. owned, operated or franchised 1,686 restaurants worldwide, consisting of 997 company- owned restaurants and 689 franchised restaurants across both Chili’s Grill & Bar & Maggiano’s Little Italy brands
• Approximately 50 million Americans visit Chili’s Grill & Bar every three months
• Recognized as one of ”America’s Best Employers” on the 2015 Forbes List and Fortune’s “100 Best Workplaces for Millenials”
Seller will guarantee Buyer the difference between the current rent and the next rent increase scheduled for September 1, 2019. Income shown reflects proforma rent as of August 1, 2019. The difference in rent will be credited at closing.
(1) Chili’s Grill & Bar is the Tenant under the Lease. Brinker International, Inc. is the Guarantor.
FL Broker of Record: Ryan Nee
License: BK3154667
