Tenant: Sonic | (Broadway St) Galveston, TX
Premises: 1,776 SF
Renewal Options: 3 x 5 Years
Lease Expiration: 12/31/2036
Lease Type: Absolute NNN
Rental Increases: 10% Every 5 Years
Sands Investment Group is Pleased to Present For Sale the Sonic Absolute Triple Net Lease Located in Galveston, Texas. This Deal Includes Over 14 Years Remaining on an Absolute Triple Net (NNN) Lease With 10% Rent Increases Every 5 Years With Additional Bonus Rent (7% of Gross Sales Over Base Rent), Providing For a Secured Investment.
In Cooperation With Sands Investment Group Austin, LLC Lic. #9004706 BoR: Max Freedman Lic. # 644481
Read Additional Thought Leadership Content From SIG, Specializing in Absolute Triple Net Lease Opportunities
SONIC, America’s Drive-In, is the nation’s largest chain of drive-in restaurants Founded in 1953 in Oklahoma City, Oklahoma, SONIC has delighted guests with signature menu items, more than 1.3 million drink combinations, friendly service by iconic Carhops. SONIC is part of the Inspire Brands family of restaurants and Inspire Brands is the Subsidiary company of Roark Capital Group.
As the largest national chain of drive-in restaurants the iconic SONIC style is hard to duplicate, but SONIC’s distinct brand differentiation goes far beyond the drive-in format. SONIC’s one-of-a-kind menu offers a variety of options unavailable from other brands, including Real Ice Cream desserts, TOASTER® sandwiches, Molten Cake Sundaes, breakfast all day, tasty Tots, premium hot dogs and more than 1 million unique drink combinations.