HOME  |  ABOUT  |  NET LEASE 101  |  CONTACT  |  SUBSCRIBE



7-Eleven
Advance Auto Parts
Affordable Dentures
ALDI
Applebee's
Arby's
Ashley Furniture
AutoZone
Bank of America
BankUnited
BB&T Bank
Best Buy
BMO Harris Bank
Bojangles'
Burger King
Captain D's
Chase Bank
Chick-fil-A
Chipotle
Church's Chicken
Circle K
Cracker Barrel
CVS
Dairy Queen
DaVita
Dollar General
Dollar Tree
Dunkin' Donuts
Family Dollar
FedEx
Fred's Super Dollar
Fresenius Medical Care
Hardee's
Hobby Lobby
IHOP
KFC
Kohl's
Mattress Firm
McDonald's
Napa Auto Parts
O'Reilly Auto Parts
Panera Bread
PDQ
Pep Boys Auto
PNC Bank
Red Lobster
Rite Aid
Sheetz
Shell Oil
Sherwin-Williams
Starbucks
Steak 'n Shake
SunTrust
Taco Bell
TD Bank
Tractor Supply Co.
Verizon
Walgreens
Walmart
Wawa
Wegmans
Wendy's
Zaxby's
  Church's Chicken


Average Property & Lease

Average Sale Price$1,095,121
CAP Rate (12mo avg with 10+ lease term)6.88%
NOI$75,000
$/Square Foot$650
Building Size1,700 +/- sf
Lot Size0.3 - 1.0 acres
Lease Term20 Years
Escalations10% Every 5 Years or 1.5% Annually
CREDIT RATING
N/A
S&P
N/A
Moody's
view credit rating chart
View Net Lease Property Listings at CALKAIN.COM Last Updated: January 12, 2017
Net Lease Advisor Overview

The Atlanta-based quick-service restaurant chicken chain is currently expanding by partnering up with a new franchisor.

Pros

Cons

  • NNN lease eliminates landlord responsibilities
  • Increases in base term on most leases
  • Several lease extensions of five years each
  • Private Company
  • Must look closely at performance of franchisor across all locations
Tenant Description

Founded in San Antonio, TX in 1952 by George W. Church, Church's Chicken® is one of the largest quick service restaurant chicken chains in the world. Church's® specializes in Original and Spicy Chicken freshly prepared throughout the day in small batches that are hand-battered and double-breaded, Tender Strips®, sandwiches, honey-butter biscuits made from scratch and freshly baked, and classic, home-style sides all for a great value.

Church's® (along with its sister brand Texas Chicken® outside the Americas) has more than 1,650 locations in 25 countries and international territories and system-wide sales of more than $1 billion. There are more than 1,150 franchise and company-owned restaurants in 29 states.

Church's Chicken® will be engaging in a significant domestic expansion with a new franchising deal in the Southeast. There are plans to open 10 new restaurants within next 5 years through a San Antonio-based franchisor.

In Nation's Restaurant News' Top 100 2016, Church's Chicken ranked No. 57 with $837.5 million in U.S. system-wide sales for the fiscal year ended December 2015.
CHURCH'S CHICKEN TREND
CAP Rate

2015 avg: 6.56%

2016 avg: 6.88%

RECENT SALES

Albuquerque, NM | 7.50%

Panama City, FL | 6.50%

MORE INFO
www.churchs.com