5855 Blaine Ave
Inver Grove Heights, MN 55076

- Concept: Applebee’s is the world’s largest casual dining chain with 1,837 restaurants operated by Applebee’s franchises in the United States, two U.S. territories and 13 countries outside the United States. 99% of all Applebee’s are owned and operated by Franchisees. The Applebee’s brand is owned by Dine Brands Global, Inc. (NYSE: DIN), which operates 3,688 restaurants under the Applebee’s and IHOP brand names making it one of the largest full-service restaurant companies in the world. As of March 31, 2019, Dine Brands Global, Inc. reported TTM total revenues of $830.0M. - Experienced Operator: With over 1,245 restaurants and $2.3 billion in annual sales, Flynn Restaurant Group is the largest restaurant franchisee, and one of the 50 largest foodservice companies of any kind, in the United States. Through its four subsidiaries, Apple American Group LLC, Bell American Group LLC, Pan American Group LLC, and RB American the company owns and operates 460 Applebee’s, 282 Taco Bell restaurants, 134 Panera Bakery cafés and 368 Arby’s. Apple Minnesota LLC, the tenant under the lease, operates approximately 50 units and had TTM sales of $126 million as of September 2018. Absolute Net Lease: 20-year absolute net lease with ±9 years of primary lease term remaining - No Landlord responsibilities. - Attractive Rent Escalations: 10% rent increases every 5 years throughout the initial term. - Dynamic Demographics: Population of 57,308 and an average household income of $79,436 within a 3-mile radius.