Church's Chicken - Portfolio of 5 5 Retail Properties in Multiple Locations

## Sales Notes
Northmarq is pleased to present the exclusive opportunity to acquire a portfolio of five corporate-guaranteed Church’s Texas Chicken properties located throughout the St. Louis metropolitan area. The portfolio consists of five fee-simple restaurant properties in St. Louis, Overland, and Normandy, Missouri, totaling 6,409 square feet across 1.73 acres. The offering is secured by a master lease guaranteed jointly and severally by the Church’s Texas Chicken corporate parent, providing investors with a single source of corporate-backed income across all five locations. The portfolio currently generates annual NOI of approximately $1,207,500 and features a streamlined lease structure with renewal options and annual rental increases during the option term.
A compelling aspect of the offering is its exceptionally low rent basis. At approximately $48,300 per unit, average portfolio rent is roughly 63% below both Missouri and national quick-service restaurant averages, creating significant occupancy-cost cushion for the tenant and supporting long-term store viability. Corporate credit backing, combined with below-market rents, provides investors with an attractive risk-adjusted income stream.
All five locations are strategically positioned throughout the St. Louis MSA, the 23rd-largest metropolitan area in the United States with a population exceeding 2.8 million residents. The region is supported by a diverse economic base that includes aerospace and defense, healthcare, advanced manufacturing, logistics, bioscience, financial services, and higher education. Twenty-two companies appearing on the Fortune 1000, Forbes Global 2000, and Forbes’ largest private companies lists maintain headquarters in the metro area, including seven Fortune 500 companies. Notable employers include Boeing, Centene, Barnes-Jewish Hospital, Washington University Medical Campus, Express Scripts, and numerous advanced manufacturing and logistics employers.
The portfolio benefits from proximity to some of the region’s strongest economic and institutional drivers. Multiple locations are positioned near major hospitals, universities, manufacturing centers, and transportation infrastructure, including Barnes-Jewish Hospital, Washington University Medical Campus, the Cortex Innovation District, the University of Missouri–St. Louis, Lambert International Airport, Boeing’s Defense, Space & Security headquarters, and extensive industrial employment hubs throughout North St. Louis County. These diverse demand generators provide consistent customer traffic and support the long-term operational stability of each location.
St. Louis continues to experience significant investment activity that is reshaping the metropolitan area. Nearly $15 billion of public and private capital is being deployed through major projects, including Boeing’s $1.8 billion North County expansion, the $1.75 billion NGA West headquarters campus, airport redevelopment initiatives, the Riverpointe riverfront district, large-scale infrastructure improvements, and mixed-use developments throughout the region. These projects are expected to drive additional employment, economic growth, and consumer demand across the market.
The individual properties are located within established retail corridors and dense residential neighborhoods characterized by strong national co-tenancy and high traffic volumes. Several locations benefit from nearby Costco, Home Depot, Target, Aldi, Whole Foods, Chick-fil-A, Starbucks, Marriott, Hilton, and numerous other nationally recognized retailers and restaurants. Additionally, multiple assets are situated along major transportation routes with traffic counts exceeding 30,000 to 75,000 vehicles per day, providing excellent visibility and accessibility.
Church’s Chicken was founded in San Antonio, Texas, in 1952 and has grown into one of the largest quick-service chicken concepts in the world. Together with its sister brand, Texas Chicken, the system operates more than 1,500 locations across 26 countries and territories and generates approximately $1.665 billion in annual systemwide sales. The brand’s more than 70-year operating history and extensive global footprint provide investors with exposure to a well-established quick-service restaurant operator.
This offering provides investors the opportunity to acquire a corporate-guaranteed net lease portfolio located throughout one of the Midwest’s largest metropolitan economies, featuring below-market rents, established real estate, strong regional fundamentals, and corporate-backed income from a globally recognized restaurant brand.