Property Highlights
- New long term Absolute Net Ground Lease
- Corporate guarantee
- Industry leading, e-commerce resistant tenant
- Florida is a top performing state for Chili’s where they operate 100 stores and benefit from strong brand recognition and customer loyalty
- 2019 renovation
- 10% rent increases every 5 years provides inflation hedge
- Below market rent
- Excellent underlying real estate fundamentals
- 1.42 acres at fully signalized intersection with unobstructed visibility to 36,500 ADT along Hwy 90
- The Lake City Mall and surrounding retail trade area is the primary shopping and dining destination for all of Columbia County and it’s ±70,000 residents
- US Hwy 90 is a major commuter road that connects Jacksonville to Tallahassee, and interchanges at I-75
- Florida has no state income tax