Taco Bell Ground Lease

Columbus, OH

Bldg Size: 1,972 sq. ft. Land: .803 Acres Lease Type: Ground Lease

Price: $600,000 Yield: 7.76 (CAP) Expiration Date: 10/31/2019

• The lease is guaranteed by Taco Bell Corp, a division of Yum Brands (NYSC: YUM) which has a S&P BBB-
• Property is one mile from the new $400 million Penn National Casino with 400 slots, 100 gaming tables, 25 poker tables, and a 4,000 space parking garage which is under construction on a 123 acres
• Triple Net Ground Lease with 9+ years remaining on base term; Four (5) year options.
• Tenant exercised their first renewal option early.
• 10% increase every 5 yrs. Next escalation on 10/31/2014 taking cap rate to 8.54%
• Outparcel to a 295,602 sf shopping center with Imagine Schools, Restaurant Depot, and Subway
• Neighboring tenants include Target Greatland, Kroger, OfficeMax, A.J.Wright and BigLots!
• Heavily populated daytime trade area with over 265,000 people
• 2008 Population (5-mile): 244,787; 2008 Avg. HH Income (5-mile): $57,672

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