Texas Roadhouse is located in Tinley Park, one of the fastest growing areas in all of Greater Chicago. The Store is one of the strongest is Texas Roadhouse corporate system, trending over 50% above national average ( average store produces $3.8 million in revenue). The Property has prominent visibility along I-80 and LaGrange Road, a high traffic local artery. Adjacent to the Property is Hilton Garden Inn and Carlson’s Country Inn & Suites, containing 216 national flag hotel rooms. Within 5 miles of the Property, the population is greater than 160,000. Traffic counts for Interstate 80 and LaGrange Road is nearly 161,000 vehicles per day.
A triple net lease (triple–Net or NNN) is a lease agreement on a property where the tenant or lessee agrees to pay all real estate taxes, building insurance, and maintenance (the three “nets”) on the property in addition to any normal fees that are expected under the agreement (rent, utilities, etc.)
High demand from tenants. This demand remains strong as newer types of retailers have emerged and compete for the prime visibility and easy access (Urgent Care Centers and ER Centers, Dental Care, Wireless Carrier Stores).
Tenants desire the visibility as well as the control over their real estate. The building and signage reflects the retailers brand and image. Whereas in a shopping center a retailer would only get to put up a sign on the building, in a freestanding building the entire building is designed by the retailer. High visibility builds brands.
Majority of NNN retailers are national or regional tenants that have meticulous site selection criteria models (they know where they want to be which is why they sign the longer term leases and invest in their properties the way they do)