Net Leased Long John Silvers Property Sale Arranged Date August 29, 2017
The Boulder Group, a net leased investment brokerage firm, has completed the sale of a net leased Long John Silvers & A&W Restaurant property located at 2235 Needmore Road in Dayton, Ohio for $975,000. The two tenants occupy the property under a single lease.
The 2,246 square foot net leased Long John Silvers building is strategically located along Needmore Road, the primary east-west thoroughfare in the area. The property is less than one-quarter mile west of Interstate 75 with a full access interchange. The property is positioned near some national retailers such as Kroger, Chase Bank, PNC Bank, O’Reilly Auto Parts and Advance Auto Parts.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a northeast based real estate group. The purchaser was a west coast based private trust.
The property has approximately 11 years remaining on the lease which expires in September 2028. This triple net lease features a drive-thru, 1.50% annual rent escalations and two 5-year renewal option periods. Long John Silver’s is the world’s most popular quick-service seafood chain serving nearly four million customers each week. A&W Restaurants is notable for being the first successful food franchise company.
“Properties priced below one million continue to garner significant interest amongst private investors,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Single tenant quick service restaurants with long-term leases continue to be in the great demand.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $4 billion of single tenant net lease real estate transactions. From 2011-2016, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.comBack