CONFIDENTIALITY DISCLAIMER
This offering has been prepared solely for informational purposes. It is designed to assist a potential investor in determining whether it wishes to proceed with an in-depth investigation of the subject property. While the information contained herein is from sources deemed reliable, it has not been independently verified by the MAJ Commercial Real Estate affiliate or by the Seller.
The projections and pro forma budget contained herein represent best estimates on assumptions considered reasonable under the circumstances. No representations or warranties, expressed or implied, are made that actual results will conform to such projections. This document is provided subject to errors, omissions and changes in the information and is subject to modification or withdrawal. The contents herein are confidential and are not to be reproduced without the express written consent.
Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE. Prior to and/or after contracting to purchase, as appropriate, buyer will be given a reasonable opportunity to inspect and investigate the Property and all improvements thereon, either independently or through agents of the buyer’s choosing.
The Seller reserves the right to withdraw the Property being marketed at any time without notice, to reject all offers, and to accept any offer without regard to the relative price and terms of any other offer. Any offer to buy must be: (i) presented in the form of a non-binding letter of intent; (ii) incorporated in a formal written contract of purchase and sale to be prepared by the Seller and executed by both parties; and (iii) approved by Seller and such other parties who may have an interest in the Property. Neither the prospective buyer nor Seller shall be bound until execution of the contract of purchase and sale, which contract shall supersede prior discussions and writings and shall constitute the sole agreement of the parties.
Prospective buyers shall be responsible for their costs and expenses of investigating the Property and all other expenses, professional or otherwise, incurred by them.
MAJ COMMERCIAL REAL ESTATE
MAJ Commercial Real Estate is pleased to offer a prime investment opportunity to acquire a Single-Tenant Ground Lease in Hutto, TX. The property is leased to Salad and Go with a brand-new 20-year initial term that began on [lease commencement date]. The lease includes 10% base rent escalations every five years, including throughout the tenant’s option periods, providing a stable and increasing income stream. Ideally situated at the busy intersection of Chris Kelley Blvd and Carl Stern Dr, the site benefits from high visibility and proximity to Hutto High School, which serves approximately 1,855 students and employs around 121 staff. Nearby businesses include Dutch Bros, Take 5 Oil, Lowe’s, Starbucks, Popeyes, and more.
LEASE SUMMARY
LEASE GUARANTOR: Salad and Go
NUMBER OF LOCATIONS: 113 (2023)
HEADQUARTERS: Phoenix, AZ
FOUNDED: 2013
WEBSITE: wwww.saladandgo.com
PROPERTY ADDRESS:
130 Chris Kelley Boulevard Hutto, TX 78634
GUARANTOR: Corporate
OWNERSHIP TYPE: Ground Lease (Unsubordinated)
INITIAL LEASE TERM: 20-Years
EXTENDED TERMS: Four, 5-Year Options
LEASE TYPE: Absolute NNN Lease
LANDLORD RESPONSIBLE: None
Salad and Go is an American drivethru restaurant chain that specializes in salads, wraps, and breakfast. The brand is headquartered in Tempe, Arizona with a second office in Addison, Texas, and two food production facilities in Phoenix and Dallas. Salad and Go is a privately held company with more than 100 locations operating across four states including Arizona, Texas, Oklahoma and Nevada.
The brand features a variety of fresh items such as salads, wraps, soups, breakfast burritos and bowls, cold brew coffee and hand-crafted lemonades.
Salad and Go currently has more than 100 stores operating across four states: Arizona, Texas, Oklahoma and Nevada.
ADDRESS:
130 Chris Kelley Boulevard
Hutto, TX 78634
TENANT: Salad and Go
LEASE TYPE: Absolute NNN Ground Lease
YEAR BUILT: 2023
RENT COMMENCEMENT: Sept. 29, 2023
BUILDING SIZE: +/-970 SF
LAND SIZE: +/-27,312 SF
INVESTMENT HIGHLIGHTS
10% Base Rent Increases every 5-years
Lease is Guaranteed by Salad and Go Corporate
Premium Location directly across from Hutto High School and Hutto Memorial Stadium
Positioned at a prime, signalized intersection (Chris Kelley Blvd. and Carl Stern Dr.)
Salad and Go pursues restaurant expansion over new warehouse in Arizona
09/20/2024
Last year the company built about a store a week and Morrison expects that pace to continue.
This year will include entry into California, Kansas, and Arkansas, while the company also has its sights on Southeast markets, including Atlanta, in 2025 and beyond.
Aside from demand, driving this swift growth is the model. Salad and Go locations are only about 750 square feet, which enables the company to find “unique pockets of real estate.”
The double drive-thru includes a dedicated lane for mobile pickup, which now makes up about 20% of the mix.
Source: https://www.nrn.com/operations/salad-and-go-opening-store-week-plans-expandthousands
TAXES
TENANT RESPONSIBLE
TENANT RESPONSIBLE
TENANT RESPONSIBLE
TENANT RESPONSIBLE
Salad and Go Welcomes New Nonprofit Salad and Go Charities
10/01/2024
Salad and Go — which is on a mission to make nutritious food accessible to everyone — is launching a nonprofit to transform lives and create a healthier future for America. Newly formed Salad and Go Charities will expand the community programs that the one-of-a-kind restaurant concept has built.
Salad and Go Charities, which operates independently of Salad and Go, will focus its support in three key areas: donating nutritious meals, investing in area programs that address food insecurity, and educating the next generation on healthy habits and nutrition. The organization will serve the communities in Arizona, Texas, Oklahoma, and Nevada where Salad and Go operates its more than 140 stores, and the restaurant concept has big plans to expand to more states in the near future.
Source:
https://hoodline.com/2024/09/salad-and-go-shifts-strategy-from-phoenix-distribution-hub-to-rapid-restaurant-expansion-in-the-valley/
PROPERTY PHOTOS
PROPERTY PHOTOS
SURROUNDING AREA
Carmel Creek Development
SUBJECTPROPERTY
Chris Kelley Blvd
Hutto Isd Police Department
Hutto High School
Hutto Memorial Stadium
SURROUNDING AREA
The Commons at Rowe Lane
Tradesmens
Industrial Park
Forest Creek
Greenridge
130
MILE
2 MILE
3 MILE
Hutto High School
Howard Norman Elementary School
Creek Bend Neighborhood
Glenwood
CARMEL CREEK DEVELOPMENT
A 466-Acre Mixed Use Development with residential, retail and medical opportunities throughout.
Hotel and Office
The Apartments
Commercial Tract #1
Emory Apartments
The Emory Apartments
The Emory is a beautiful 305 Unit apartment project in the rapidly growing suburb of Austin - Hutto, Texas. The project has beautifully landscaped grounds as well as the latest in amenities. Gaming center, wood flooring throughout, home automation in every unit are some of the amazing features - first units delivered in December 2021.
PLANNED NEW DEVELOPMENTS
Hutto, TX
$1.5M Investment 35,000SF Building
UNDEVELOPED
Size: Approx. 992 Acres
Description: The city additional developments. hotels, conference centers projects could be announced
Size: 220 Acres
Expected Investment: Total Employees: 30-40 Center
Description: Skybox and Prologis Inc. will center campus with large data center facilities as an electrical substation will serve much of
UNDEVELOPED SECTIONS
Acres city is working to recruit developments. These could also include centers and restaurants. New announced in early 2023.
Confirmed Project
PROLOGIS
Investment: $2-3 Billion 30-40 Per Data
Skybox Data Centers will build a data with multiple facilities as well substation that the Megasite.
Confirmed Project
HUTTO MEGA TECH CENTER
Size: 188 Acres
Construction Timeline: Q2 2023-2024
Description: Hutto Mega TechCenter will be an industrial park with buildings for companies to use as warehouse or manufacturing space. Joe Iannacone, senior VP at Titan Development, said the sizable site will allow titan to recruit companies that need large facilities.
SAMSUNGS SEMICONDUCTOR PLANT
Completed
SAMSUNG’S SEMICONDUCTOR PLANT
CHIPS Act incentive: $6.4B in federal grants
Project investment: $45B
Project size: 1,268 acres
Project scope: 2 new fabrication plants, 1 new research and development lab, 1 new advanced packaging facility
EPalm Mopac
PalmValleyBlvd(35,871VPD)
SUBJECT PROPERTY
TX-130S (63,058 VPD)
1 Mile
3 Miles
5 Miles
DEMOGRAPHICS
BUSINESS
INCOME
Hutto TX
A close-knit community conveniently located near the state capital, the City of Hutto is where small-town charm meets big-city vibes. While best known for its historic hippo mascot, Hutto is on the move. Not only did Money Magazine name Hutto one of the Top 50 Places to Live in the United States in 2023, but the City has also been repeatedly ranked as one of the safest communities around. And despite its impressive growth, Hutto’s culture of collaboration and economic development are stronger than ever. Road by road, and business by business, Hutto is indeed “Building the Future.”
Living in Hutto
Located at the intersection of US 79 and SH 130, Hutto is approximately seven miles east of Round Rock, 15 miles south of the county seat of Georgetown, and 22 miles from Austin, making it an attractive place to live. While the local economy has agrarian roots, the booming Central Texas economy now includes many high-tech, manufacturing, and service jobs. The charm of Hutto is balanced with quality schools, growing parks, expanding retail opportunities, and a strong workforce.
Photo by: www.huttotx.gov
