425 Sparks Blvd

• High Credit Tenancy – 100% leased to BJ’s Restaurants and Brewhouse, Inc (NASDAQ: BJRI), a national brewhouse and casual dining chain with an annual revenue exceeding $1.33 billion and market capitalization of ± $683 million across over 216 nationwide locations
• National Brand, Absolute NNN Ground Lease – Passive “coupon clipper” single-tenant investment leased to the well-known brand BJ’s Restaurant and Brewhouse. The NNN nature of the lease results in zero landlord responsibilities – perfect for out-of-town investors
• Regional Retail Hub Location – The property is an outparcel to the Target and Lowe’s anchored Outlets at Legends, a ±1,000,000 SF regional center located in the core of a vibrant retail trade area with national tenants including Burlington, T.J. Maxx, Chick-fil-a, Crunch Fitness, Petco and others
• Corporate Lease, Scheduled Rental Increases – BJ’s Restaurants and Brewhouse, Inc. is on a long-term 20-year ground lease (6 years remaining), with CPI (max 8%) rental increases every 5-years including options on an established “corporate credit” investment with zero landlord responsibilities
• Strong Historical Occupancy – The property has operated as a BJ’s Restaurant and Brewhouse since its 2010 construction, with vintage rent is ±20% below market producing low occupancy costs while allowing for a future mark-to-market opportunity