The NNN Pro Group is pleased to present the exclusive listing for the Red Lobster located at 2520 Route 22, Union, NJ 07083. The site will consist of roughly 10,908 rentable square feet of building space on an estimated 1.81-acre parcel of land. The Red Lobster is subject to an absolute triple-net (NNN) lease that commenced on 2/15/2017. The annual rent is $402,040 and is scheduled to increase by 2.00% annually throughout the base term and continuing through 4, 5-Year Options.
About the Investment
✓ Long-Term, Absolute Triple Net (NNN) Lease
✓ Approximately 18 Years Remaining
✓ Attractive Two Percent (2%) Annual Rental Increases
✓ Four (4), Five (5)-Year Tenant Renewal Options
✓ Red Lobster Corporate Guarantee (700+ Restaurants)
