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.<\/p>\n
The\u00a0 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\u2019s, 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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
\u201cE-commerce resistant retailers including tenants in the QSR sector continue to be in high demand amongst investors\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 Jimmy Goodman, Partner of The Boulder Group, added, \u201cSingle tenant restaurant properties continue to garner significant interest amongst private investors.\u201d<\/p>\n