Red Lobster

Springfield, Illinois

INVESTMENT SUMMARY
The NNN Pro Group is pleased to present the exclusive listing for the Red Lobster located at 2696 South Dirksen Parkway, Springfield, IL 62703. The site will consist of roughly 7,468 rentable square feet of building space on an estimated 1.75-acre parcel of land. The Red Lobster is subject to an absolute triple-net (NNN) lease that commenced on 7/28/2014. The annual rent will be $399,938 in August 2024 and is scheduled to increase by 2% Annually throughout the base term and continuing through 4, 5-Year Renewal Options.

About the Investment:

✓ Long-Term, Absolute Triple Net (NNN) Lease
✓ Over 20 Years Remaining on the Base Term
✓ Attractive Two Percent (2%) Annual Rental Increases
✓ Four (4), Five (5)-Year Tenant Renewal Options
✓ Red Lobster Corporate Guarantee (700+ Restaurants)