Net Leased Arbys Sold Date November 28, 2022
The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant net leased Arbys located at 1120 East Admiral Doyle Drive in New Iberia, Louisiana for $1,267,000.
The 2,175 square foot net leased Arbys benefits from its location near a signalized hard corner along Lewis Avenue and Admiral Doyle Drive (22,912 VPD) which is a primary east – west thoroughfare. The property is well positioned in the primary retail corridor in New Iberia along Admiral Doyle Drive with brands such as Walmart, T.J. Maxx, ALDI, Ross Dress for Less, Walgreens, Starbucks, Circle K, Office Depot, and Hobby Lobby. Other retailers in the area include Advance Auto Parts, UPS, and Wendy’s. There are 46,163 people living within five miles of the property with an average household income more than $70,000 annually.
Turbo Restaurants Inc. is a leading international quick-service restaurant company operating in the United States. It is a part of Sun Holdings, one of the largest franchisee owners in the county. Arby’s is the second-largest quick-service fast-food sandwich restaurant chain in the U.S. in terms of units, franchising nearly 3,400 restaurants.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both sides in the transaction. The seller was a nationwide real estate investor, and the buyer was an all-cash California investor.
“Single tenant drive-thru properties with long term leases are the most sought-after net lease products” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “The property was newly renovated in 2022 just for the tenant which attracted the buyer.”
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 2012-2021, 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