White Castle Ground Lease 1420 N Bullard Ave

- Single-tenant White Castle drive-thru investment opportunity, featuring a new 12-year absolute triple-net (NNN) ground lease with 10% rental increases in year six and at each option.
- Founded in 1921, White Castle was America’s first fast-food hamburger chain. White Castle now has more than 340 restaurants in 14 states and has sold over 29 billion sliders. 
- The Property features a double drive-thru lane for high traffic volume. 
- The Property is located at a heavily traveled intersection with ±54,469 VPD and is just north of the I-10 Freeway with ±231,748 VPD (Source: ADOT, 2023). 
- RED Development, in partnership with Globe Corp., is building GSQ, a 150-acre mixed-use development set to transform Goodyear as the city’s premier cultural hub featuring a variety of dining, retail, residential, office, hotel, and entertainment offerings. GSQ is located at the northwest corner of the intersection. 
- The Property is located down the street from the new Goodyear Civic Square, which includes a state-of-the-art city hall, two-story library, and a two-acre community park for food trucks, fairs, concerts, and more.
- This location boasts strong demographics with an average household income of ±$139,200 in a 1-mile radius and a total population of ±91,079 in a 3-mile radius (Source: Esri). 
- Goodyear is a hub for technology, manufacturing, and logistics. In the last few years, the city has welcomed 22 new manufacturing or logistics companies totaling 6.5M SF and creating 2,300 jobs in the local economy. 
- Buc-ee’s, the world’s largest convenience store, recently acquired 24 acres on the southeast corner of Bullard Ave and Interstate 10 (±2 minutes from the Property) for $17,246,990. This site will feature a 74,000 square-foot convenience store with 120 fueling stations.
*The adjacent Bubba's 33 ground lease is also available for sale. These properties can be acquired separately or as a package.
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