GEORGIA BROKER OF RECORD - Leon Novak - The Trilogy Group, LLC - License No. 6506
Faris Lee Investments is pleased to offer a brand new STNL freestanding, corporate Chick- Fil-A on a long term 15-year initial term absolute NNN ground lease (land ownership for the buyer) in McDonough, GA, which is less than 30 miles from the brand’s corporate headquarters in Atlanta, GA. The new 15-year lease, with (8) five-year renewal options, will commence at the restaurant’s November 2024 grand opening. The lease includes 10% rental increases occurring every 5 years, providing the investor with long-term security and hedges against inflation. Additionally, Chick-Fil-A is responsible for all construction obligations and costs, showing their commitment to the site.
Chick-fil-A is one of the most respected and successful quick-service restaurant brands in the United States. Established in 1946, Chick-fil-A has grown to over 3,000 locations nationwide, with continued expansion planned for 2024-2025. The brand has achieved national recognition with systemwide sales hitting $21.6 billion in 2023, marking a 71% growth from 2019. In 2023, Chick-fil-A’s average unit revenues reached a record $9.3 million, significantly outpacing competitors like McDonald’s, which averages about $4 million per unit. Newsweek recently recognized Chick-fil-A for its exceptional service, rating it #2 in customer satisfaction within the quick-service restaurant chain category.
The large 1.93 AC parcel sits at the signalized hard-corner intersection of Hwy 20 and Willow Ln (±38,800 VPD) and is adjacent to McDonough Marketplace, which is anchored by Walmart Supercenter and Lowe’s. This regional shopping center attracts over 4.9 million visitors each year according to Placer.ai. Additionally, the subject property is near the on/off ramp of Interstate 75 (±123,000 VPD). Chick-fil-A locations in the McDonough trade area average an impressive 698,000 annual visitors, underscoring consumer affinity for the brand in Atlanta MSA. Large National/Credit Tenants in the trade area include Walmart, Lowe’s Hobby Lobby, Five Below, Kohl’s, Office Depot, Burlington, Starbucks, McDonald’s, Taco Bell, Wendy’s, Popeye’s, Zaxby’s, and Cracker Barrel. These retailers are supported by over 256,000 residents with an AHHI of approximately $100,000, within a 10-mile radius. Atlanta is the third fastest growing MSA in the United States and is the economic hub of the southeast region.