P.F. Chang's Corporate Ground Lease
For sale to qualified investors is the fee simple interest in a corporate P.F. Chang’s located in Toledo, Ohio. P.F. Chang’s signed a corporate ground lease for the location in 2006 and recently committed to the location by extending the lease through 2027. Annual store sales for 2021 jumped 11% from 2020 and represent a rent-to-sales ratio of 5%. The lease calls for rent at 5% of store sales based on monthly sales reporting. This advantageous clause will allow the owner to benefit as the store’s sales continue to increase from 2020 and 2021. The property is located in The Shops of Fallen Timbers lifestyle center in Maumee, Ohio, a suburb of Toledo. The largest of its kind serving the region, Fallen Timbers includes national tenants such as Rave Cinemas (14 screens), Dillard’s, The University of Toledo Medical Center, Staybridge Suites, Barnes & Noble, American Eagle, Aeropostale, Red Robin, and more.