Portland Retail for Sale - Mall 205
* Dominant International Brand – 100% leased to an established and iconic American fast-food tenant - Carl’s Jr. Wholly owned by CKE Restaurants Holdings, Inc., Carl’s Jr. is a privately held restaurant company based in Franklin, TN–operating more than 1,000 locations across the US and serving 28 countries worldwide
* Well-Established Operator – This location is operated by KB Restaurants, (www.teamjck.com), a seasoned franchisee with over 35 years of experience managing more than 61 Carl’s Jr. restaurants. In total, JCK Restaurants oversees ±89 locations across multiple brands, including Dave’s Hot Chicken, Hawaiian Bros, Human Bean, and Jersey Mike’s, demonstrating a robust and diversified operational portfolio
* Absolute NNN Lease with Scheduled Rental Increases – The property is subject to an Absolute NNN lease, the most passive form of real estate investment. The tenant directly covers all operating expenses, while the landlord enjoys depreciation benefits from owning the improvements
* Recent 5 Year Extension – Carl’s Jr. recently executed their first option (expiring April 2031) with fixed 10% rent increases every five years and three remaining 5-year renewal options, offering a highly attractive and stable investment opportunity
* High-Quality, Recently Improved Drive-Thru Building – High-quality, purpose-built property constructed specifically for Carl’s Jr’s occupancy in 2006, with an extensive remodel completed around 2020, limiting any deferred maintenance and the need for any near-term capital improvements
* Complimentary Surrounding Tenants – Carl’s Jr. is strategically located directly across the street from a Fred Meyer Anchored Shopping Center with dominant tenants 7-Eleven, Starbucks, Chevron, KFC, Jiffy Lube, Dutch Bro’s Coffee, Subway, Ross, and more within the immediate trade area
