Houston, Texas - Net Lease Properties news for this morning is from the Houston area. A Single-Tenant Net-Leased Property with Arby's as Tenant sold. This net lease property sold for approximately $2.1 million.
This Arby's net leased property is 3,012 square-feet and is a newer Arby's located in Cypress (Houston Suburb). This net lease investment was built in 2008. Arby's occupies a the entire freestanding building with a drive-thru. Arby's has recently signed a 20-year corporate guaranteed absolute (NNN) Triple Net Lease with rent increases every five years throughout the term of the lease and four, five-year options.
This area of Houston is an affluent area with dense Retail traffic. This property is nearby other net lease properties such as Lowe's, Walmart, Home Depot & Kroger. Arby's is situated between Two dominant traffic corridors.
Immediately North of this Cypress Towne Center are Target, Bed, Bath & Beyond, Best Buy, Ross & More net lease properties.
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