The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Arbys Restaurant located at 1911 Main Street in Green Bay, Wisconsin for $1,080,000.<\/p>\n
The 2,000 square foot net leased Arbys Restaurant building is strategically located along Main Street in a dominant retail corridor. Main Street is the primary east-west thoroughfare in the trade area.\u00a0 The Arby\u2019s Restaurant has excellent visibility. Retailers located in the immediate area include Pick \u2018n Save (Kroger), Walgreens, Dollar Tree, Family Dollar, Planet Fitness, AutoZone, and The East Town Mall which features Kohl\u2019s, Hobby Lobby, Office Max, Petco, ALDI and Shopko.\u00a0 East Town Mall is undergoing a major renovation along with adjacent property in the coming year.\u00a0 There are over 70,000 people living within a three mile radius of the property.<\/p>\n
Randy Blankstein and John Feeney of The Boulder Group represented the seller in the transaction; a Midwest based real estate developer.\u00a0 The purchaser was a west coast based real estate investment group.<\/p>\n
The Arby\u2019s Restaurant lease has over 14 years remaining and features 5% rental escalations every 5 years of the primary term and in each renewal option period. The lease is triple net and features zero landlord responsibilities.\u00a0 Arby\u2019s is a leading international quick-service restaurant company that specializes in deli-style sandwiches. Arby\u2019s is the second-largest quick-service fast-food sandwich restaurant chain in the U.S. in terms of units and third-largest in terms of revenue.<\/p>\n
\u201cProperties priced below $2 million with long term leases continue to garner significant interest amongst private investors\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 John Feeney, Vice President of The Boulder Group, added, \u201cSingle tenant quick service restaurants with long term leases continue to be in the great demand.\u201d<\/p>\n