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Tenant Profiles

Red Lobster

B+E > B+E INSIGHTS > Tenant Profiles > Red Lobster
02/29/2024 By B+E

Red Lobster

www.redlobster.com

34
Number on Market

$5.1M
Average Price

17.5
Average Remaining Term (Years)

6.42%
Average Cap Rate

Red Lobster Tenant Overview

Red Lobster, an American casual dining restaurant primarily focused on seafood, holds a prominent position in the culinary landscape. Founded in 1968 by Bill Darden, the brand has experienced remarkable growth and now boasts a widespread presence from coast-to-coast. Red Lobster’s menu showcases a diverse selection of delectable seafood offerings, ranging from succulent lobsters and tantalizing shrimp to flavorful crabs and mollusks. A particular highlight is the preparation of fresh Maine lobster by certified grill masters on their signature wood-fire grills, ensuring a mouthwatering dining experience for patrons. 

Beyond its delectable cuisine, Red Lobster is deeply committed to sustainability and responsible sourcing of seafood. The restaurant goes to great lengths to ensure that its seafood is 100% traceable and originates from suppliers that adhere to stringent regulatory measures aimed at managing fish populations responsibly.

red lobster

Tenant Data:

Company Red Lobster, Inc.
Parent Company Darden Restaurants, Inc.
Ownership Public
Headquarters Orlando, FL
Ticker NYSE: DRI
Credit Rating Caa1 (Moody’s)
Annual Revenue $10.5B (FY 2023)
Locations (North America) ± 653
Website www.redlobster.com
Average Red Lobster Info
Number on Market 34
Average Price $5,104,240
Average Remaining Term 17.5 Years
Average Cap Rate 6.42%
Average NOI $325,741
Average PPSF $649
Average Building SF 7,834 SF
Average Lot Size 1.59 AC
AS OF 02/01/2024

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