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$ 4,101,008

Red Lobster

Casual Dining  

Cap Rate 6.25% | SF 7,270 | Term 13.5
Clearwater, FL 33761
  • Build to suit

  • High traffic 50M+ VPD

  • Highway location

  • Top 100 MSA

  • Strong demographics

  • Income tax free state

  • Absolute NNN

  • Long 10+ yr lease

  • Corporate Guarantee

  • ...
  • Red Lobster has 15+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 2% annual rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease
  • Tenant Red Lobster
  • Guarantor Corporate
  • #Units 700
  • Stock Private

Red Lobster is the largest seafood restaurant concept in the world and is an iconic full-service brand with broad demographic appeal. The company was founded in 1968 and today operates 700+ restaurants throughout the U.S. and Canada and has 40+ franchised restaurants in international markets. In 2020, a group led by Thai Union Group (TUG) acquired Red Lobster from Golden Gate Capital. The new ownership group now includes TUG, current Red Lobster management, and a newly formed investment group, Seafood Alliance, which is led by two prominent global restaurant operators. They are headquartered in Orlando, FL.

Thai Union Group Public Company Limited (OTCMKTS: TUFBY), together with its subsidiaries, manufactures and sells frozen, chilled, and canned seafood in Thailand and internationally. Sales during 2022 reached an all-time high of $155.6B, a 10.3% year-on-year increase.

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