The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant Arby\u2019s located at 10112 Maysville Road in Fort Wayne, Indiana for $1,200,000 or a 4.58% cap rate.<\/p>\n
The 2,400 square foot record setting Arby\u2019s cap rate property is a strategically positioned outparcel of Walmart Supercenter. Other retailers in the immediate area include Menards, Meijer, Walgreens, AT&T, Kohl\u2019s, PetSmart and Marshalls. The property is well located along Maysville Road (18,500 VPD). The Arby\u2019s property has excellent visibility and easy access. There are 86,338 people living within 5 miles of the property and have an average household income of $72,556.<\/p>\n
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction and were able to secure the lowest cap rate on record for an Arby\u2019s leased property at 4.58% according to CoStar. The seller is a private Midwest based partnership and the buyer is a trade buyer based in the southeast.<\/p>\n
The new twenty year Arby\u2019s lease features 10% rental escalation every five years and in each four 5-year renewal option. The lease is guaranteed by Arby\u2019s Restaurant Group, Inc. and has zero landlord responsibilities. Arby\u2019s Restaurant Group, Inc. is a leading international quick-service restaurant company operating in the United States. Arby\u2019s is the second-largest quick-service fast-food sandwich restaurant chain in the U.S. in terms of units and third in terms of revenue, franchising nearly 3,400 restaurants.<\/p>\n