Chuch's Chicken - Portfolio of 3 3 Retail Properties in Multiple Locations

Northmarq is pleased to present the exclusive opportunity to acquire a portfolio of three corporate-guaranteed Church’s Chicken properties located throughout the St. Louis MSA in Missouri and Illinois. The offering is secured by a master lease with approximately 6.4 years of remaining term and a single corporate guaranty from Church’s Texas Chicken, providing investors with a streamlined income stream backed by one of the largest quick-service chicken brands in the world. The portfolio includes locations in St. Louis, Ferguson, and Washington Park totaling 4,141 square feet on 1.39 acres.
The portfolio benefits from below-market rents that average approximately 47% below both Missouri and national QSR rent averages, creating strong occupancy economics and helping support long-term tenant retention. Future rent increases are already built into the lease structure, with scheduled increases in 2027 and 2032, followed by annual 1.5% increases during the option term.
Each property occupies a strategic infill location supported by strong local demand drivers. The St. Louis location sits directly across from the John Cochran VA Medical Center, which serves nearly 72,000 veterans annually and is currently undergoing a $1 billion modernization project. The Ferguson property is positioned near the I-270 corridor with more than 140,000 vehicles per day moving through the surrounding interchange and benefits from nearby regional anchors including St. Louis Community College and Christian Hospital. The Washington Park property is connected to the broader Metro East region via MetroLink and benefits from proximity to Scott Air Force Base, one of Southern Illinois’ largest employment centers.
The portfolio is situated within the St. Louis metropolitan area, the 23rd-largest metro in the United States with more than 2.8 million residents. The region is supported by a diverse economic base including aerospace and defense, healthcare, advanced manufacturing, logistics, financial services, and education. Major employers include Boeing, Centene, and numerous Fortune 1000 and Fortune 500 companies headquartered throughout the region.
Additionally, the market continues to benefit from transformative public and private investment. Nearly $15 billion in capital projects are reshaping the metro area, including Boeing’s $1.8 billion defense expansion, the $1.75 billion NGA West headquarters campus, airport redevelopment initiatives, large-scale riverfront projects, and major transportation infrastructure investments. These projects are expected to strengthen economic activity and support long-term retail demand across the region.
Church’s Chicken was founded in 1952 and operates more than 1,500 restaurants across 26 countries and international territories, generating approximately $1.665 billion in annual systemwide sales. With over 70 years of operating history and a significant franchised global footprint, the brand remains one of the most recognized names in the quick-service chicken segment.
This offering presents investors with the opportunity to acquire a corporate-guaranteed net lease portfolio in a major Midwest metropolitan market with contractual rent growth, below-market occupancy costs, and strong regional fundamentals.