Cheddar’s Scratch Kitchen

Tenant Description

Cheddar’s Scratch Kitchen  is an American restaurant brand based in Irving, Texas. Founded in 1979, the company has 170+ locations in 28+ states as of 2019. In March of 2017 Darden Restaurants announced its intent to acquire Cheddar’s for $780+ million plus another $10 million for transaction-related expenses.

What To Look For When Buying A Cheddar’s Scratch Kitchen

Sales, Quality Of Real Estate, Cheddar’s Has A Unique Building Prototype

What We Like About Cheddar’s Scratch Kitchen

Good food, Darden Is A Strong Company And Generally Picks Great Real Estate

Competition

Chipotle, Friendly’s, Qdoba Mexican Eats, Denny’s, Bob Evans,

What Is Sold In A Cheddar’s Scratch Kitchen

Cheddar’s Scratch Kitchen serves traditional and modern American food such as Chicken Tenders, Homemade Onion Rings, and House Smoked Baby Back Ribs, etc.

Cheddar’s Scratch Kitchen Website

https://cheddars.com/

Parent Company

Darden Restaurants

https://www.darden.com/

Corporate Office Location

1000 Darden Center Drive – Orlando, FL 32837

Fast Facts

Zagat ranked Cheddar’s the nation’s No.1 full-service restaurant chain in 2012

Consumer Reports named Cheddar’s #1 in the Pub Style or Grill Category in its two restaurant surveys in 2009 and 2012.

In July 2016, Cheddar’s was named #3 out of the “20 Top Full-Service Chains In Sales And Satisfaction” by Restaurant Business. Of all the full-service restaurants tracked. Also in 2016, Cheddar’s Scratch Kitchen named “Favorite Casual Dining Restaurant” in Market Force Study.

Stock Price (Parent Company)
Tenant News (Parent Company)
Average Cap Rate Trend
5.75%
2019
6.00%
2020
12 mo avg with 10+ yr lease term (*Please Note Data Points Are Not Exact Figures*)
Average Sale Data & Lease Structure
Avg. Sale Price$2,500,000
Avg. Annual Rental Income$140,000
Avg. Price/ SF$300/SF
Typical Lease TypeGround Lease
Typical Lease Term10 Years
Typical Lease Escalations10% Every 5 Years
Credit Rating (Parent Company)
S & PBBB Stable
Moody'sBaa3 Stable

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