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INVESTMENT HIGHLIGHTS
NEW CONSTRUCTION GROUND LEASE: This is a new construction, new drive-thru/pick-up concept Chick-fil-A. Chick-fil-A has a new 20-year Absolute NNN Ground Lease with eight (8), five-year renewal options. The Property is currently under construction and has an anticipated rent commencement date of December 1, 2024. The Chick-fil-A ground lease calls for an attractive 10% rent increase in year 11 and at the start of each renewal option providing the investor with an attractive increase in revenue and hedge against inflation. The Chick-fil-A Ground Lease is Absolute NNN and requires zero management responsibilities making it an attractive investment for the passive real estate investor.
PRIME RETAIL LOCATION: The new construction Chick-fil-A is extremely well located along Saw Mill Road (CT Route 162). The Property enjoys outstanding visibility, frontage and access and is positioned directly in front of Interstate 95’s exit 42 on-off ramp. Chick-fil-A enjoys convenient access to several area public and private schools including the Notre Dame and West Haven High Schools, Yale University West Campus (1.5-miles), University of New Haven (1.75-miles), Gateway Community College (4-miles) and Yale University (4-miles). The Property is also close to several area hospitals and Downtown New Haven (4-miles).
STRONG TRAFFIC COUNTS: Over 26,300 vehicles per day pass the Property along Saw Mill Road (CT Route 162). Additionally, more than 142,100 vehicles pass near the Property along Interstate 95. Chick-fil-A enjoys pylon signage visible to the Interstate 95 traffic.
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