Property
Description |
Rentable Area: |
3,270 (sf) |
Land Area: |
56,869 (sf) |
No. of Parking Spaces: |
70 |
Frontage: |
273' on East Street |
Lease
Terms |
Lessee: |
RTM Indianapolis, Inc. |
Guarantor: |
Arby's Restaurant Group, Inc. |
Expiration Date: |
05/01/2018 |
Tenant Responsibilities: |
Absolute NNN |
Landlord Responsibilities: |
None |
Percentage Rent: |
N/A |
Real Estate Taxes: |
$14,256 FY 2010 |
Base Rent: |
$104,178 |
Escalations: |
4% every two years, next increase 05/01/2012 |
| Options: |
2, 5-year Options |
Demographics (2009) |
| |
1 Mile |
3 Miles |
| Population: |
10,672 |
72,954 |
| Households: |
4,886 |
34,106 |
| Med. H. H. Inc: |
33,405 |
35,943 |
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The building was constructed in April, 2005. It is a single story building made of brick and effice with a rubber membrane roof and a drive-thru lane. It sits on a corner lot with 273 feet of frontage on South East Street. There are three access points for the site. Two of them are on South East Street and the third is on the southern end of the site from Werges Avenue. Traffic counts are 32,272 CPD on South East Street. |
About
Arby's |
On July 25, 2005, Triarc acquired RTM Restaurant Group, Arby’s largest franchisee, and formed Arby’s Restaurant Group, Inc., an Atlanta-based company comprised of more than 3,500 restaurants. Of those, Arby’s Restaurant Group owns and operates more than 1,000 restaurants located in the United States.
On September 29, 2008, Triarc Companies Inc. merged with Wendy's International, Inc. to form Wendy's/Arby's Group, Inc. Wendy's/Arby's Group, Inc. is the third largest quick-service restaurant company in the United States. Wendy's/Arby's Group, Inc. trades on the New York Stock Exchange under the symbol WEN. |
Site Analysis |
This location is on South East Street which is a 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. 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. 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.
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