The subject property is a freestanding Pizza Hut / WingStreet delivery-only restaurant located in Gainesville, Florida. This is a sale leaseback transaction with the tenant executing a new 15 year lease at the close of escrow. Pizza Hut is located at a convenient high traffic intersection. The tenant just completed significant improvements to the Property including a new facade, paint, signage, landscaping and the addition of the WingStreet concept. The Property is at the intersection of NW 34th Street & NW 53rd Avenue and is adjacent to a mixed use retail / office building (daycare, salon, alteration store and insurance office). Other traffic generators in the immediate are include Alberston’s Grocery & Pharmacy, YMCA, Family Dollar & Quick Stop.

Tenant: TNT Pizza Partners, Inc.
TNT Pizza Partners, Inc. is a Pizza Hut restaurant operator with 32 locations in Florida, Pennsylvania and New Jersey. TNT is owned by Bryan Neuendorf, who has been involved with a Texas-based Pizza Hut partnership for many years. Bryan has acquired units in existing Pizza Hut markets where his team’s management and operational skills will increase market share and drive revenues. TNT owns 6 units in the Gainesville, Florida market and has an 81% share in 26 additional units in PA and NJ. TNT Pizza Partners’ philosophy is to continually reinvest capital back into their business, as evidenced by the significant capital improvements made to the properties. Pizza Hut’s WingStreet concept has been added to most locations at a cost of approximately $60k per unit, along with upgrades to building interior, exterior, signage and landscape. Bryan’s operations partner is Michael Baird, who has been in the Pizza Hut system for 32 years. Mr. Baird’s last position before becoming a franchisee was Director of Franchise Operations for the PHI domestic market. TNT Pizza Partners brings new capital and a new enthusiasm to the markets they enter and is ranked as a leading system franchise operator.