100 Sheraton Dr
Altoona, PA 16601

CBRE IS PLEASED TO EXCLUSIVELY PRESENT FOR SALE this 6,220-square-foot freestanding Outback Steakhouse situated on 1.79 acres in Altoona, Pennsylvania, which is the principal city of the Altoona MSA located less than 100 miles east of Pittsburgh. Outback Steakhouse has 14 years remaining in its initial 15 year lease with 1% annual rental increases and four, five year options to renew. The lease is an absolute NNN lease with zero landlord responsibilities or expenses. This investment offers investors the opportunity to purchase a net leased asset leased on a long-term NNN basis to one of the country’s premier casual dining restaurant operators. The property is ideally situated with excellent visibility from both Sheraton Drive and West Plank Road (Traffic Count: 13,000 VPD), just 0.5 miles south of I-99 (33,000 VPD), which is the area’s primary north-south thoroughfare. The site is also immediately adjacent to and shares access with the 124-room Altoona Grand Hotel, Conference Center, and Residences, which provides the restaurant with a substantial built-in customer base. Additionally, the property sits just across West Plank Road from the Sierra North Plaza shopping center, which is anchored by Target, Field & Stream, and Petco. With over 5 MSF of retail within a 3-mile radius, the property sits within Altoona’s premier retail corridor, which is highlighted by the Logan Valley Mall (0.9 miles to the north), the area’s retail staple, anchored by Macy’s, Sears, and JC Penney.