|Gross Leasable Area (GLA)||2,857 Sq.Ft.|
|Price Per Square Foot (GLA)||$539|
|Lot Size||0.91 Acres|
Marcus & Millichap is pleased to present the subject property, a Jack in the Box located at 2150 Paredes Line Road in Brownsville, Texas 78521. The property consists of a 2,857-square foot building and is situated on roughly 0.91 acres of land.
Jack in the Box recently exercised a 10-year lease restructure, which reset the lease term to 10.5 years remaining. The annual rent is $85,710 and will increase by 10 percent every five years that continue through the four, five-year tenant renewal option periods.
The lease is guaranteed by Jack in the Box, Incorporated, which is an American fast-food restaurant chain founded February 21, 1951, by Robert O. Peterson in San Diego, California. The chain currently has 2,255 locations, primarily serving the West Coast of the United States and selected large urban areas in the eastern portion of the United States including Texas. Food items include: a variety of hamburger and cheeseburger sandwiches along with selections of internationally themed foods such as: tacos and egg rolls. The company also operates the Qdoba Mexican Grill chain. Jack in the Box is publicly traded on the NASDAQ (JACK) and has annual revenues of more than $1.6 billion.
Net-Leased Investment Specialist