Available Property

Burger King Ground Lease
161 Pike View Drive
Midlothian (Richmond), Virginia
$2,396,039

The subject property is the investment in the land under a Burger King restaurant in Midlothian Virginia. The Property consist of a 35,414 sf parcel of land improved with a 2,800 sf restaurant building with a drive-thru near the interchange of Route 288 and Route 60. The tenant has constructed all improvements and retains ownership during their tenancy. Upon default or expiration of the lease, all improvements will revert to the landowner at no additional expense. The property is an outparcel to Westchester Commons, a new outdoor shopping center which will have over 650,000 sf retail in Richmond MSA’s wealthiest zip codes (23113), with average household income in excess of $150,000. Nearby traffic generators include Target, Regal Cinemas, Gold’s Gym, Jo-Ann Fabrics, Petco, OfficeMax, Chick-Fil-a, Wells Fargo, SunTrust Bank and more. Directly across the street is Bon Secours Ambulatory/emergency Care Center and Village Bank Headquarters.

Tenant: Burger King Corporation (now Restaurant Brands International)
Burger King, often abbreviated to BK, is a global chain of hamburger quick service restaurants. The first restaurant was opened in Miami, Florida in 1954 by James McLamore and David Edgerton and had grown to 14,000 locations worldwide. In 2014 Burger King merged with Tim Horton’s to create Restaurant Brands International, Inc. with public stock trading on the New York Stock Exchange and Toronto Stock Exchenge. Later the Company added Popeye’s Louisiana Kitchen to its portfolio. Burger King is an American legacy brand with 11 million customers served daily. RBI is one of the world’s largest QSR companies with more than $30 billion of system-wide sales and 24,000 restaurants in 100 countries. The Company operates some corporate stores but most are operated by franchisee partners. Restaurant Brands International, Inc. has a B+ credit rating from S & P Global

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