Asking Price Contact for pricing
NOI Net Operating Income
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income
Cap Rate N/A

Documents

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Key facts

Year Built 2014
Building Area
Land Area ()

Property description

JLL is pleased to offer for sale the fee-simple Yard House (the “Property” or “Asset”) located in Miami Beach, FL. Yard House is a wholly-owned subsidiary of Darden Restaurants, an investment grade (Moody’s: ‘Baa3’), industry leading operator. The Asset was a 2014 build-to-suit, and Yard House has nearly 8 years remaining on an original 15-year primary term. The tenant has a stellar rent paying history and did not miss a payment throughout the COVID-19 pandemic. Yard House has a 10% rent bump in March of 2024, offering an excellent opportunity to pick up yield. The Asset is located on Lenox Avenue, just steps from the world-renowned Lincoln Road Mall, and sits on some of the best intrinsic real estate the southeast has to offer. This offering presents the opportunity to acquire a quality Asset leased to an industry leading operator on a mid-term lease.


Investment highlights

  • 7.75 years remaining on a lease with minimal landlord responsibilities
  • 10% rent bump in 2024, offering an excellent opportunity to pick up yield
  • Flagship location, Yard House did not miss a payment during the pandemic
  • Tax free Miami Beach, #2 most visited city in U.S. by overseas travelers 
  • Steps off Lincoln Road Mall, preferred destination for tourists and residents 
  • Wholly owned sub of $18 billion Darden Restaurants (Moody's 'Baa3')


Last Updated Date: 12 Jul 2021
Alex Sharrin
Alex Sharrin
Managing Director, Capital Markets
Broker Licenses
IL - 475.170243
Alex Geanakos
Alex Geanakos
Director, Capital Markets
Broker Licenses
475.189621

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Last Updated Date: 12 Jul 2021

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