The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant Hardee\u2019s located at 7942 Garners Ferry Road in Columbia, South Carolina for $1,675,000.<\/p>\n
The 3,389 square foot net leased Hardee\u2019s benefits from its location near a signalized hard corner along Garners Ferry Road (36,500 VPD) which is a primary east \u2013 west thoroughfare. The property is well positioned in a dominant retail corridor along Garners Ferry Road which is anchored by a Walmart Supercenter, Lowe\u2019s Home Improvement, BI-LO, Tractor Supply Company, and ALDI. Other retailers in the area include Walgreens, CVS Pharmacy, Family Dollar, O\u2019Reilly Auto Parts, and Verizon. There are 73,822 people living within 5 miles of the property with an average household income in excess of $74,500 annually.<\/p>\n
Randy Blankstein and John Feeney of The Boulder Group represented the seller in the transaction. The seller is a Texas based real estate company and the buyer is a South Carolina based real estate investor<\/p>\n
The Hardee\u2019s lease expires on October 31, 2035 and features three 5-year renewal options with 7.5% rental escalations every 5 years. As a subsidiary of fast-food giant CKE Restaurants Holdings, Hardee\u2019s is a leading fast-food chain. Along with its sibling restaurant chain, Carl\u2019s Jr., Hardee\u2019s is the 5th largest fast-food restaurant chain in the United States.<\/p>\n
\u201cSingle tenant restaurant properties with long-term leases with rental escalations are the most sought-after net lease product\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 John Feeney of The Boulder Group, added, \u201cE-commerce resistant food-based retailers continue to be in high demand amongst investors.\u201d<\/p>\n