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1851 N Central Expressway, Allen, TX 75013
PROPERTY INFORMATION
INVESTMENT HIGHLIGHTS
- Brand New 8,803 SF Lazy DOG Restaurant & Bar with a 1,820 SF Patio for Additional Seating
- 20 Year Sale Leaseback | No Landlord Responsibilities
- 10% Rent Bumps Every 5 Years | Two, Five Year Options
- In the Heart of One of the Most Densely Populated and Growing Areas in the Dallas MSA
- Five Yr Projected Population Growth of 16.2% within One Mile
- Median Home Value within One Mile is $417,472
INVESTMENT SUMMARY
Fortis Net Lease is pleased to present this brand new Lazy DOG restaurant and bar
located at 1851 Central Expressway N, Allen, Texas. At the close of escrow, the tenant,
Lazy Dog Corporate, will sign a brand new 20 year Absolute NNN lease requiring zero
landlord responsibilities. The lease also features 10% increases every 5 years to hedge
against inflation. These rent escalations are also included in the two, five year options.
This is an opportunity for an investor to purchase a trophy asset with a long term lease
and no landlord responsibilities.
LOCATION SUMMARY
Allen is a city in Collin County, Texas, United States, a northern suburb of Dallas. As of the 2010 United States Census, the city had a total population of 84,246. The Allen area was previously home to the Caddo, Comanche, and other indigenous peoples. The first immigrants from the United States and Europe arrived in the early 1840s. The town was established by the Houston and Central Texas Railroad and named in 1872 for Ebenezer Allen, a state politician and railroad promoter. The railroad allowed sale of crops across the country before they rotted, causing a shift from the previous cattle-based agriculture. On February 22, 1878, a gang led by Sam Bass committed in Allen what is said to be Texas's first train robbery. From 1908 through 1948, Allen was a stop along the Texas Traction Company's interurban line from Denison to Dallas. Allen was a small town of a few hundred residents when it was incorporated in 1953. Since this time, it has grown dramatically due to the construction of U.S. Route 75, the Dallas/Fort Worth International Airport, and the development of nearby Dallas and Plano. Among the more recent developments is the Waterford Parks neighborhood.