Florida Taco Bell Property Sale Arranged Date May 20, 2020
The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant ground leased Florida Taco Bell property located at 4370 Pleasant Hill Road in Kissimmee, Florida for $1,407,000.
The subject Florida Taco Bell property is located along Pleasant Hill Road (49,000 VPD), which is a primary north-south thoroughfare in the area. The Taco Bell property is outparcel to a Lowe’s Home Improvement and near retailers including Walmart, ALDI, Publix, 7-Eleven, AutoZone and CVS,. The property is in close proximity to Liberty High School (2,000+ students) which drives continual traffic to the corridor. There are over 70,000 people living within three miles of the property and the population is forecasted to grow by more than 2% annually through 2024.
This lease is corporately guaranteed by Taco Bell. The ground lease has approximately 19 years remaining in the primary term and features zero landlord responsibilities. Additionally, the lease features 10% rental escalations every five years. The property was newly constructed in 2019 on a 1.1 acre parcel.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer in the transaction. The seller was Florida based real estate investor and the purchaser was a northeast based investor in a 1031 exchange.
“Single tenant restaurant properties continue to garner significant interest amongst private investors” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Retailers in tax free states continue to be in high demand amongst 1031 investors.”
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 $6 billion of single tenant net lease real estate transactions. From 2012-2019, 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.com