Net Leased Bojangles Sale Arranged Date May 26, 2021
The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Bojangles property located at 1657 Bessemer City Road in Gastonia, North Carolina for $2,165,000.
The 2,674 square foot net leased Bojangles is positioned along Bessemer City Road (23,000 VPD) and within close proximity to Interstate 85 (91,500 VPD), which connects Gastonia to Charlotte. Bojangles is one of the only fast-food retailers serving the areas large industrial workforce. Tenants in the area include Advance Auto Parts Distribution, Wix Filtration Corporation, Dole Fresh Vegetables, Nussbaum Automotive Solutions, Sunbelt Rentals, Conitex Sunoco, and many more. There are over 72,314 people living within five miles of the property earning an average household income of $54,409.
This Bojangles lease has over 8 years remaining on the primary lease. Bojangles is an American regional chain of fast-food restaurants that specializes in Cajun-seasoned fried chicken, and buttermilk biscuits that primarily serves the Southeastern United States. The company was founded in Charlotte, North Carolina, in 1977 by Jack Fulk and Richard Thomas.
Jimmy Goodman and John Feeney of The Boulder Group represented the seller in the transaction, who was a Texas based real estate company. The buyer was an individual involved in a 1031 exchange.
“Nationally recognized brands with corporate guarantees are some of the most sought-after net lease products” said Jimmy Goodman Partner of The Boulder Group. John Feeney, Senior Vice President of The Boulder Group, added, “Buyer confidence was inspired in this purchase by the significant operating history which included above average store sales and numerous lease extensions.”
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 2012-2020, 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