Property Description

Demographics

Rentable Area:

3,270 sf

One Mile

Three Miles

Land Area:

56,869 sf

Population:

10,672

72,954

Year Built:

2005 (complete rebuild)

Households:

4,886

34,106

Parking Spaces:

70 spaces including 2 hcp.

Med H.H. Inc

$33,405

$35,943

Frontage:

273’- S East St.

Option Terms

Base Lease Terms

Terms:

  Two 5-year options

Lessee:

RTM Indianapolis, Inc.

Escalations:

Base Rent Increases the lesser of CPI or 4.0% every two years.

Lease Guarantor:

Arby’s Restaurant Group, Inc

Traffic Generators

Commencement Date:

April 21, 1998

18,445(1996) on South East Street

This location is at the mid-point of a three mile predominately leased retail corridor.  To the south along S. East Street, there are several national retial anchored strip centers.  Target, Kroger and other national retail tenants are in this vicinity due to the proximity to the interstate ring around Indianapolis, I-465.  The immediate vicinity surrounding the S. East Street Arby’s is made up of mostly national fast food restaurants, both national and local check cashing stores and locally owned small shop tenants in strip centers of 3-5 retail tenants.  The retail corridor is supported by the single family housing on the feeder streets. 

Expiration Date:

May 1, 2018

Term:

Initial term 20 years. 10+ years remaining.

Annual Base Rent:

$102,524.60

Escalations:

Base Rent Increases the lesser of CPI or 4.0% every two years (2008).  Next increase May 2010.

Landlord Responsibilities:

None

Tenant Responsibilities:

Absolute NNN

Home

Listings

Aerial View

Area Map

Building & Site Analysis

Single story building with drive-thru lane, made of brick and effice with rubber membrane roof.

Neighborhood Analysis

Intersection of South East Street and East Werges Avenue.  South East Street is the major north/south thru-fare accommodating vehicular traffic to and away from downtown Indianapolis.  From the subject property, I-465 is south approximately 1 mile.  This particular stretch of South East Street is heavily populated with national retail tenants.  A Target anchored strip center, owned by Kimco, is between the property and the 1-465 interchange.  The property is at the northern end of this particular section of South East Street.  All of the major national chain fast food operators are along South East Street.  East Werges Avenue is an east/west travelway that serves mostly the residential homes.  Some light industrial property exists within a short distance of the property.

About

Arby’s Restaurant Group, Inc. is a subsidiary of Wendy’s/Arby’s Group, Inc. Wendy’s/Arby’s Group, Inc. is the nation’s third largest quick service restaurant company and is comprised of the Wendy’s® and Arby’s® brands, two companies distinguished by traditions of quality food and service. The company, with approximately $12 billion in system-wide sales, owns or franchises over 10,000 restaurants. Wendy’s/Arby’s Group trades on the New York Stock Exchange under the symbol WEN. Arby's is a fast food restaurant franchise in the United States and Canada that is primarily known for selling roast beef sandwiches, chicken sandwiches, potato cakes, curly fries, Jamocha milkshakes and chicken strips. The company's target market attempts to be more adult-oriented than other fast food restaurants. The Arby's menu also includes appetizers, salads, Market Fresh (deli-style) sandwiches, wraps, and submarine sandwiches. However, their focus has always been roast beef. Arby's currently uses the slogan "I'm thinkin' Arby's."