The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant net leased Arby\u2019s located at 7125 County Road 54 in New Port Richey, Florida for $1,730,000.<\/p>\n
The 3,500 square foot net leased\u00a0 Arby\u2019s benefits from its location near a signalized hard corner along Rowan Road (27,600 VPD) and County Road 54 (42,000 VPD) which is a primary east \u2013 west thoroughfare. The property is well positioned in a dominant retail corridor along County Road 54 with brands such as 7-Eleven, Bealls Florida, CVS Pharmacy, Dollar General Market, McDonald\u2019s, Pizza Hut, The UPS Store, Walgreens, and Winn Dixie. Other retailers in the area include Advance Auto Parts, Dunkin\u2019, and Wendy\u2019s. There are 158,722 people living within 5 miles of the property with an average household income in excess of $63,899 annually.<\/p>\n
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller was a private real estate investor and the buyer was a Florida based trade buyer.<\/p>\n
The lease has over 14 years remaining with four 5 -year renewal options and is guaranteed by Mosaic Red Hat Group, LLC, a 41 -unit operator. This tenant has been at this location since 1990. Arby\u2019s Restaurant Group, Inc. is a leading international quick-service restaurant company operating in the United States.<\/p>\n
\u201cNet leases to e-commerce resistant tenants like Arby\u2019s continue to garner significant investor interest\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 Jimmy Goodman, Partner of The Boulder Group, added, \u201cQSR tenants, like Arby\u2019s, have performed well during COVID-19 due to restrictions placed on indoor restaurants.\u201d<\/p>\n