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5755 North Point Parkway, Suite 262
Alpharetta, GA 30022
770.481.1960
www.shanegroup.net
LONGHORN GROUND LEASE
1095 Cobb Place Blvd NW, Kennesaw, GA
5755 North Point Parkway, Suite 262
Alpharetta, GA 30022
770.481.1960
www.shanegroup.net
File Photo: site under construction
1095 Cobb Place Blvd NW, Kennesaw, GA 770.481.1960 | www.shanegroup.net
LONGHORN GROUND LEASE
See accompanying Confidentiality Statement.
INVESTMENT SUMMARY
AERIAL MAPS
SITE PLAN
TENANT OVERVIEW
LEASE ABSTRACT
LOCATION MAPS
DEMOGRAPHICS
LongHorn is located in Kennesaw, GA, a high-growth Atlanta suburb approximately 30 miles north of downtown Atlanta. There are
approximately 170,000 people within 5 miles of the property with an average HH income just over $88,000. Additionally, there is a
tremendous daytime population of 60,000 within 3 miles and over 114,000 within 5 miles. The population has grown 10% to 20%
in this area since 2010 and is expected to grow another 7% to 10% over the next 5 years. As noted above, the property is located
on Barrett Pkwy (60,500 cars per day), near the corner of N. Cobb Pkwy (37,400 cars per day), conveniently off I-575 (78,500 cars
per day) and I-75 (145,900 cars per day). The property is located near the new 44-acre mixed-use development anchored by Whole
Foods, Academy Sports, and Hobby Lobby. Additionally, it is centrally located within a major retail node consisting of over 4mm SF
of retail, including the 1.2mm SF Town Center Mall (see the aerials for details). Finally, Kennesaw State University, the third largest
college in GA with over 35,000 students is approximately 3 miles to the north.
BUILDING: 5,842 SF | LAND: 1.70 ACRES | YEAR BUILT: 2018
Kennesaw, GA
Site Under Construction: Opening 3rd Qtr 2018
New 15-Year NNN Corporate Ground Lease
Over 97,000 Cars Per Day at Nearby Intersection
Rents at $32 PSF vs $45—$78 PSF (other new ground leases)
Major Retail Node: Over 4.2mm SF of Retail
Nearby new Whole Foods 44-Acre Mixed-Use Development
Significant Daytime Population: over 114,000 within 5 miles
LongHorn (Darden/RARE Hospitality) has executed a 15-year NNN Corporate Ground Lease with 10% increases every 5 years.
The location is superb, nearby to over 4mm SF of retail, including a new 44-acre mixed-use center anchored by Whole Foods. The
property is situated on Ernest W. Barrett Pkwy which has a car count of over 60,500 per day, and is just off N. Cobb Pkwy, with
another 37,400 cars per day. It’s also located less than a mile from two interstates (I-75 and I-575). Ground rent for LongHorn is
only $32 PSF, while other new ground rents in this immediate area are $45 to $78 PSF (see aerial map for details). LongHorn has
over 490 locations and 2017 Revenue of $1.6 Billion. It is a subsidiary of Darden Restaurants (NYSE: DRI, Market CAP: $11.3
Billion) which has over 1,700 locations and 2017 Revenue of $7.1 Billion.
1095 Cobb Place Blvd NW, Kennesaw, GA 770.481.1960 | www.shanegroup.net
LONGHORN GROUND LEASE
See accompanying Confidentiality Statement.
INVESTMENT SUMMARY
AERIAL MAPS
SITE PLAN
TENANT OVERVIEW
LEASE ABSTRACT
LOCATION MAPS
DEMOGRAPHICS
New Ground Lease Rents
Subject: LongHorn — $32 PSF
1. Panda Express — $45 PSF
2. Freddy’s Burgers — $45 PSF
3. Popeye’s Chicken — $50 PSF
4. SunTrust Bank — $78 PSF
Barrett Pkwy
60,500 Cars Per Day
N. Cobb Pkwy
37,400 Cars Per Day
1
2
3
4
1095 Cobb Place Blvd NW, Kennesaw, GA 770.481.1960 | www.shanegroup.net
LONGHORN GROUND LEASE
See accompanying Confidentiality Statement.
INVESTMENT SUMMARY
AERIAL MAPS
SITE PLAN
TENANT OVERVIEW
LEASE ABSTRACT
LOCATION MAPS
DEMOGRAPHICS
Interstate 575
78,500 Cars Per Day
Interstate 75
145,900 Cars Per Day
Town Center Mall at Cobb
Barrett Pkwy
60,500 Cars Per Day
N. Cobb Pkwy
37,400 Cars Per Day
1095 Cobb Place Blvd NW, Kennesaw, GA 770.481.1960 | www.shanegroup.net
LONGHORN GROUND LEASE
See accompanying Confidentiality Statement.
INVESTMENT SUMMARY
AERIAL MAPS
SITE PLAN
TENANT OVERVIEW
LEASE ABSTRACT
LOCATION MAPS
DEMOGRAPHICS
1095 Cobb Place Blvd NW, Kennesaw, GA 770.481.1960 | www.shanegroup.net
LONGHORN GROUND LEASE
See accompanying Confidentiality Statement.
INVESTMENT SUMMARY
AERIAL MAPS
SITE PLAN
TENANT OVERVIEW
LEASE ABSTRACT
LOCATION MAPS
DEMOGRAPHICS
Website: www.longhornsteakhouse.com
Locations: 490+
Founded: 1981 in Atlanta, GA
Headquarters: Orlando, FL
Parent Company: Darden Restaurants (see below)
Revenue (2017): $1.6 Billion
Website: www.darden.com
Locations 1,700+
NYSE / Market CAP: NYSE: DRI, Market CAP: $11.3 Billion
Credit Rating: BBB (S&P), Baa2 (Moody's)
Revenue (2017): $7.1 Billion
Locations 1,700+
LongHorn LongHorn Steakhouse was founded in 1981 by one man on a mission to bring legendary steak to the people of
Atlanta, Georgia. By 1990, the restaurant had spread throughout the East, Midwest and Southwest United States
and Puerto Rico. LongHorn Steaks Restaurant & Saloon became LongHorn Steakhouse in 1996 and, in 2007,
Darden Restaurants, Inc. purchased the restaurant.
RARE Hospitality
Darden Brands
RARE Hospitality International, Inc. is a wholly-owned subsidiary of Darden Restaurants, Inc. It owns and
operates substantially all of the LongHorn Steakhouse and The Capital Grill restaurants.
Darden Restaurants Darden Restaurants, Inc. (NYSE: DRI, Market CAP: $11.3 Billion, S&P: BBB) is the world's largest company-
owned and operated full-service restaurant company. Darden features a portfolio of differentiated brands that
include Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille,
Seasons 52, Bahama Breeze and Eddie V's. Our people equal our success, and we are proud to employ more than
175,000 team members in over 1,700 restaurants. Together, we create memorable experiences for 380 million
guests each year in communities across North America.
1095 Cobb Place Blvd NW, Kennesaw, GA 770.481.1960 | www.shanegroup.net
LONGHORN GROUND LEASE
See accompanying Confidentiality Statement.
INVESTMENT SUMMARY
AERIAL MAPS
SITE PLAN
TENANT OVERVIEW
LEASE ABSTRACT
LOCATION MAPS
DEMOGRAPHICS
Termination Date
Term
Increases
Security Deposit
Year Annual Base Rent
1 to 5 $185,000
6 to 10 $203,500
11 to 15 $223,850
16 to 20 $246,235
21 to 25 $270,859
26 to 30 $297,944
31 to 35 $327,739
$24,829
$27,312
Option 3
Option 4
15 Years plus Four 5 Year Options
Tenant Rare Hospitality International, Inc. (LongHorn)
Building / Land 5,842 SF / 1.70 Acres
Commencement Date Anticipated 3rd Quarter 2018
15 Years after Rent Commencement
Option 2 $22,572
10% every 5 Years
None
Rent Schedule Monthly Base Rent
$15,417
$16,958
$18,654
Option 1 $20,520
Taxes Paid by Tenant
Insurance Paid by Tenant
CAM Paid by Tenant
Utilities Paid by Tenant
Landlord Expenses None; Lease is completely NNN to Landlord
1095 Cobb Place Blvd NW, Kennesaw, GA 770.481.1960 | www.shanegroup.net
LONGHORN GROUND LEASE
See accompanying Confidentiality Statement.
INVESTMENT SUMMARY
AERIAL MAPS
SITE PLAN
TENANT OVERVIEW
LEASE ABSTRACT
LOCATION MAPS
DEMOGRAPHICS
Barrett Pkwy
60,500 Cars Per Day
1095 Cobb Place Blvd NW, Kennesaw, GA 770.481.1960 | www.shanegroup.net
LONGHORN GROUND LEASE
See accompanying Confidentiality Statement.
INVESTMENT SUMMARY
AERIAL MAPS
SITE PLAN
TENANT OVERVIEW
LEASE ABSTRACT
LOCATION MAPS
DEMOGRAPHICS
One Mile Three Miles Five Miles Notes
2017 Population 9,852 51,242 170,693
2012 Population 8,096 45,692 155,999
5 Year Projected 10,921 55,305 182,212
Growth Over the Past 5 Years 21.69% 12.15% 9.42%
Projected Growth Over the Next 5 Years 10.85% 7.93% 6.75%
2017 Households 4,600 20,169 64,411
% Owner Occupied 35.10% 43.40% 58.50%
% Renter Occupied 64.90% 56.60% 41.50%
2012 Households 3,797 17,725 58,655
5 Year Projected 5,097 21,821 68,782
Growth Over the Past 5 Years 21.15% 13.79% 9.81%
Projected Growth Over the Next 5 Years 10.80% 8.19% 6.79%
2017 Average Household Income $77,160 $78,119 $88,558
5 Year Projected $89,803 $89,508 $99,677
Projected Growth Over the Next 5 Years 16.39% 14.58% 12.56%
2017 Atlanta Average Household Income $81,382
2017 Georgia Average Household Income $70,633
Employment & Establishments
2017 Employees/Daytime Population 12,647 60,081 114,058
2017 Total Establishments 717 3,730 8,828
White 51.60% 58.90% 64.10%
African American 28.10% 24.40% 21.30%
Hispanic Origin (Any Race) 10.00% 11.90% 12.30%
Native American / Alaskan Native 0.30% 0.40% 0.30%
Asian/Pacific Islander 12.10% 7.50% 6.20%
Two or More Races 3.90% 3.60% 3.30%
Other Race 4.00% 5.20% 4.80%
Race
Population
Households
Income
Five Miles is 9% higher than Atlanta Avg.
Five Miles is 25% higher than Georgia Avg.