Net Leased Arby’s Sold Date March 22, 2023
The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant net leased Arby’s property located at 3524 Lakeland Highlands Road in Lakeland, Florida for $2,342,857.
The 2,332 square foot building is located at the signalized intersection of Lakeland Highlands Road (24,388 VPD) and the entrance to Sam’s Club. The property is located on an outparcel to Sam’s Club, which according to Placer statistics is #1 in the region. The Arby’s property is also adjacent to Lowe’s Home Improvement and Bealls. Other nationally recognized tenants in the area include 7-Eleven, Truist Bank, Wendy’s, CubeSmart, and several others. The area is expected to experience 3.3% annual population growth over the next 5 years.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer in the transaction. The seller was a regional real estate developer, and the buyer was a private real estate investor out of the northeast.
The property featured a new 20-year ground lease that commenced in August 2022. The franchisee is an established operator that runs 47 locations. Arby’s is an American fast food sandwich restaurant chain with more than 3,300 restaurants system wide and third in terms of revenue. In October 2017, Food & Wine called Arby’s “America’s second largest sandwich chain”. Arby’s is the flagship property of Inspire Brands, the renamed Arby’s Restaurant Group, Inc.
“The low rent characteristic of the asset was exactly what our client was searching for,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Long term, ground-leased properties still favor the private and 1031 exchange 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 2012-2022, 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