Marcus & Millichap has successfully sold a Chick-fil-A ground lease located at Gibson Boulevard and University Boulevard in Albuquerque, New Mexico. The property consists of 4,526 square feet of building space and sits on 0.45 acres of land. This Chick-fil-A is being constructed and is expected to be completed on August 1, 2015.

The property is subject to a 15-year ground lease. The base rent is $85,000 with 10 percent rental increases every five years. The increases will continue through the six, five-year tenant renewal options. The tenant is Chick-fil-A, Incorporated and the lease has a Chick-fil-A corporate guarantee.

Chick-fil-A has steadily grown to become the largest quick-service chicken restaurant chain in the United States, based on domestic and annual sales with over 1,850 locations in 41 states and Washington, D.C. In 2013, annual sales were over $5 billion. Chick-fil-A is still privately held and family-owned. With 46 consecutive years of positive sales growth, Chick-fil-A has set itself apart by pioneering innovations and delicious products – including the ever-popular Chick-fil-A Chicken Sandwich.

• Corporate Ground Lease
• Every Five Years, 10 Percent Rent Increases
• Brand New 2015 Built to Suit Construction
• Has 15 Years Remaining on the Initial Term with Six, Five-Year Options
• More than 203,000 People Within a Five-Mile Radius