Tenant: Shoney’s
Premises: 4616 SF
Renewal Options: 2 x 10
Lease Expiration: 02/2027
Lease Type: NNN
Rental Increases: 6% Every 4 Years
100% leased single-tenant NNN lease, providing zero oversight for an investor.
Corporate Guaranteed lease with Shoney’s
Long term lease with over 13 years
Highly traveled street with over 25,000 cars per day.
Favorable Rent Increases of 6% every 4 years
In the process of renovating location
Shoney’s is a privately held restaurant chain that operates primarily in the Southeast, Midwest and Mid-Atlantic states of the United States and is headquartered in Nashville, Tennessee. It is named after Alex Schoenbaum, who was the owner of the original chain of Big Boy restaurants in the southeastern United States in the 1950s. The corporate entity is Shoney’s North America Corp., and David Davoudpour is chairman and chief executive officer. Davoudpour acquired Shoney’s in 2006 through Royal Hospitality Corp. in Atlanta. He is founder and chairman of Royal Hospitality. As of early 2011, there were approximately 230 company-owned and franchised Shoney’s restaurants in 17 states, stretching from Maryland to Florida in the east and from Missouri to Texas in the west.
