Single Tenant LongHorn Steakhouse

Forged Real Estate is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single tenant property leased to LongHorn Steakhouse, (the “Property”) in Lynchburg, Virginia, a city in the foothills of the Blue Ridge Mountains. LongHorn Steakhouse will occupy a newly renovated building with an expected opening of Winter 2025. LongHorn Steakhouse will occupy the property under a brand-new, long-term triple-net (NNN) ground lease that includes scheduled 10% rental increases every five years. This built-in rent escalation structure provides a predictable and growing income stream while the triple-net lease structure allows for a completely handsoff form of ownership. The property is ideally positioned across the street from Liberty University, ranked the #2 Best College Campus in America (2026) by Niche.com. Spanning over 7,000 acres, Liberty University is home to 16,000 on-campus students, 4,400 faculty members, and 20 NCAA Division I athletic programs, serving as a recession-resilient anchor institution that fuels consistent economic activity and daily demand for dining. In addition to its university adjacency, the property is located directly on Wards Road (41,000 VPD) and is less than a quarter mile from Lynchburg Highway (US-460) (52,000 VPD), providing unmatched visibility and accessibility within Lynchburg’s primary retail corridor. The combination of a built-in customer base from the university and exposure to more than 90,000 vehicles per day creates exceptional traffic synergies which should support strong tenant performance. LongHorn Steakhouse is strategically positioned in the heart of one of Lynchburg’s most dominant retail corridors, surrounded by a concentration of top-performing national retailers that drive consistent consumer traffic. The adjacent Walmart Supercenter ranks in the 99th percentile in Virginia and the 94th percentile nationally, while Target ranks in the 94th percentile statewide and 88th percentile nationally, and Sam’s Club ranks in the 73rd percentile in Virginia (Placer.ai), underscoring the corridor’s exceptional retail draw and sustained performance. Adding to the strength of the market, Lynchburg has proven to be a high-performing area for national steakhouse brands, with the #1 ranked Logan’s Roadhouse in Virginia and a Texas Roadhouse ranked in the 95th percentile statewide and 84th percentile nationally. As the only LongHorn Steakhouse within a 50-mile radius, this location benefits from strong consumer preference for full-service casual dining, limited competition, and a well-established customer base. This exclusivity not only enhances sales potential but also creates high tenant stickiness, reducing turnover risk and supporting long-term lease security for investors. LongHorn Steakhouse is a wholly owned subsidiary of Darden Restaurants, Inc. (NYSE: DRI), the largest company-owned and operated full-service restaurant group in the world. Darden holds an investment-grade credit rating of BBB from Standard & Poor’s, signaling strong financial health and a low risk of default. In fiscal year 2025, LongHorn generated $3.03 billion in annual sales, a 7.8% year-over-year increase, reflecting both strong same-store sales growth and continued expansion. The adjacent Olive Garden, part of the Darden Restaurants portfolio, has successfully operated at this location for over 20 years, underscoring the company’s long-standing confidence in the market and sustained consumer demand.