Ruby Tuesday Tenant Overview
- Long-term leases with rent increases
- Well known chain
- Highly competitive sector
- Private ownership
American cuisine casual dining restaurant chain focused on quality food and service
Founded in 1972 in Knoxville, TN, Ruby Tuesday continues to be a major influence in the growing casual dining sector. Known throughout this market for producing quality food and their exceptional service for mid-range prices, Ruby Tuesday has cemented itself as one of the established, larger chain restaurants. Ruby Tuesday takes pride in their focus on the family meal. Their brand advertising constantly highlights family dining and weekly specials to better serve their family clientele. Ruby Tuesday also advertises their quality ingredients throughout their constantly evolving seasonal menus.
Usually Ruby Tuesday will sign long term, NNN leases on their spaces allowing the landlord to collect income while not having to actively maintain the structure. Additionally, the leases most often will be structured with rental escalations to offset any inflation as the lease goes on.
Sandy Beall was able to grow the Ruby Tuesday concept into one of the major chains in the casual dining sector. In 1982, the chain was sold to Morrison Inc, with Beall retaining a leadership role, and had 35 locations by 1985. In December of 2017, Ruby Tuesday was sold again, this time NRD Capital Management, taking the chain private. There are more than 500 company-owned and franchised restaurants with nearly 28,000 corporate and franchise team members. Ruby Tuesday has become an American classic, an international favorite and a dependable choice in casual dining. Investors continue to recognize Ruby Tuesday as a proven brand in the casual dining category that will pay off as a long term alternative cash-flow investment.
|Average Sale Price||$1,800,000|
|$/Square Foot||$360 - $450|
|Building SF||4,000 - 5,000|
|Lot Size||1.25 - 1.80 acres|
|Lease Term||20 Years|
|Escalations||10% every 5 years|