Restaurant For Sale
9,500 Sq Ft
The Olive Garden property is ideally positioned as an outparcel to Brunswick Square Mall (769,041 square feet), anchored by Macy’s, JCPenney and AMC. Other retailers in the vibrant retail corridor include, Walmart Supercenter, Stop & Shop, Lowe’s, Kohl’s, Dicks Sporting Goods and ShopRite. There are also numerous schools which drive additional traffic to the area including East Brunswick High School (2,125 students), East Brunswick Votec High School, Hammarskjold Middle School and South River High School. There are over 175,000 people living within 5 miles of the property and have an average household income in excess of $115,000.
Olive Garden has had a long and successful operating history at this location since the 1990s. Their recent lease renewal shows their further commitment to this location. There are approximately 10 years remaining on the corporately guaranteed Olive Garden ground lease which expires December 31, 2028. The ground lease requires zero landlord responsibilities and features 10% rental escalations every 5 years. The tenant is GMRI, Inc., a wholly owned subsidiary of Darden Restaurants, Inc., doing business as Olive Garden. Darden Restaurants, Inc. is a multi-brand restaurant operator.