Available! BJ’s Brewhouse NNN Ground Lease in Oviedo, Florida

Available! BJ’s Brewhouse NNN Ground Lease in Oviedo, Florida

Investment Highlights:

■ Long Term 18+ Year Absolute-Net Ground Lease
■ Zero Landlord Responsibility
■ Corporate Guaranteed Lease (NASDAQ: BJRI) – BJ’s
Restaurants, Inc. owns and operates 209 restaurants in 29
states
■ Visibility to Traffic Counts Exceeding 46,000 Vehicles / Day
■ Part of Oviedo Park Crossing – a 329,249 SF Power Center
■ Freeway Adjacent – Near State 417 with Daily Vehicle Counts
over 67,000
■ High Growth Demographics and Trade Area Growth
■ Dominant Trade Area
■ Oviedo is part of the Orlando-Kissimmee-Sanford MSA with a
Population of 178,000+
■ Located Minutes from the University of Central Florida
Campus
■ Extended Hours of Operation | Open until Midnight on
Weeknights and Later on Weekends
■ Dine-In, Take Out, Curbside Pick Up, Delivery, and Online
Orders Available
■ Florida has no State Income Tax

Investment Overview:

Marcus & Millichap is pleased to present for sale this Ground Lease
BJ’s Restaurant Brewhouse located at 8285 Red Bug Lake Road
in Oviedo, Florida. Nestled in Oviedo Park Crossing, a 321,249 square feet Power Center, the subject property benefits from a substantial amount of traffic. It is also located near Oviedo Mall, the area’s dominant regional mall. This core retail trade area is home to a number of national and regional retailers including, Target, Lowe’s, Ross, Michael’s, PetSmart, AT&T, Dunkin Donuts, Tropical Smoothie Café, Chili’s, Bed Bath & Beyond, Home Depot, Aldi’s, Jared of the Galleria Jewelry and many others. Strategically situated near the busy intersection of Red Bug Lake Road and Oviedo Mall Blvd, the property benefits from combined traffic counts exceeding 46,300 vehicles per day.
The immediate trade area has an approximate population exceeding 178,000 with forecasted population growth of more than 5 percent in the next four years. Median household income is $82,402 across the city, and the rate of home ownership is 77.8 percent compared to the national average of 63.6 percent. In 2019, property values increased about 8.5 percent.
BJ’s executed a 20 year absolute NNN lease in 2014. The tenant
showed a commitment to the site when they exercised their first
option period early. There are over 18 years of initial term left in
their Corporate Guaranteed lease.
Founded in 1978, BJ’s owns and operates more than 200
restaurants in 29 states. Awarded more gold medals over the last
five years than any other restaurant-brewer with 11 award-winning
signature beers and cider on tap, plus 10 rotating seasonal beers
throughout the year. All restaurants offer dine-in, take-out, delivery and large party catering.

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