Net Lease Ohio Taco Bell Property Sale Arranged Date November 19, 2019
The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Ohio Taco Bell property located 2234 W Alexis Rd in Toledo, Ohio for $1,822,473.
The Ohio Taco Bell property is ideally located along West Alexis Road (28,000 VPD), a primary east-west thoroughfare. The Taco Bell property is located in a thriving retail corridor near Kroger, Home Depot, Lowe’s, Target and TJMaxx. The property is in close proximity to Whitmer High School (2,100+ Students) and the GM Powertrain Toledo Transmission Operations (1,600 employees) which drives additional traffic to the trade corridor.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller is a Midwest based real estate investment company and the buyer was a private investor in a 1031 exchange.
The lease is absolute triple net and has zero landlord responsibilities. There are fifteen years remaining in the primary term and there are 1.5% annual rental escalations. The lease is guaranteed by Charter Foods North LLC. Charter Foods operates over 200 locations throughout the South and Northeast regions of the United States. According to Restaurant Finance Monitor, Charter Foods has annual revenues in excess of $200 million annually.
“E-commerce resistant retailers including tenants in the QSR sector continue to be in high demand amongst investors” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Single tenant restaurant properties continue to garner significant interest amongst private 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 $5 billion of single tenant net lease real estate transactions. From 2012-2018, 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