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This premium to the STNL average is driven by their leases, locations, and insulation from ecommerce. The typical QSR lease is long (15 to 20 years), with no landlord responsibilities, and rental increases during the base term. QSRs usually operate in buildings with strong real estate fundamentals, good visibility from roads with high traffic counts. These factors not only help the tenant, but make the property attractive to investors. Ecommerce giants, such as Amazon, are not able to disrupt the QSR industry, as shipping prepared food is unlikely to take hold. The QSR industry is facing challenges from changing consumer preferences and rising labor costs, but the industry has started adjusting with the rise of self-service kiosks and expanded menus.

Jonathan Hipp

Jonathan Hipp began his career in real estate over 25 years ago. In his early years as a broker, he ventured into the net lease industry and quickly began leading the US net lease market, closing over $3 billion in transactions. In 2005, Jon founded Calkain Companies, a company focused solely on net lease investment services. As President and CEO, he has been instrumental in building the firm into one of the leading Net Lease real estate companies, transacting over $12 billion of net lease deal volume over the past 13 years. He has expanded Calkain’s services to include brokerage, advisory, asset management, capital markets, and industry research. He has become a well-known resource, panelist, and speaker at various Net Lease and Industry conferences and is a regular contributor to GlobeSt.com on real estate trends. In June 2015, Jon’s passion for the real estate business was again recognized as he was nominated for the Top Real Estate Player in the DC area by SmartCEO magazine.

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