The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant Taco Bell located at 12420 Saint Charles Rock Road in Bridgeton, Missouri for $1,810,000.<\/p>\n
The 3,140 square foot net leased Taco Bell is positioned along St Charles Rock Road (25,700 VPD), a primary thoroughfare. The Taco Bell property is an outparcel to Best Buy and Office Max. Tenants making up the retail corridor include Target, ALDI, Kohl\u2019s, Walmart Supercenter, Hobby Lobby, Floor & D\u00e9cor, Chick-Fil-A, Starbucks, and many more that create the dominant retail strip. The property also shares access to St Charles Rock Road with SSM Health Hospital \u2013 St. Louis, a 487-bed healthcare facility. There are 316,452 people living within seven miles of the property earning an average annual income of $83,715. The property is also less than a quarter mile from the Interstate-270 interchange (140,700 VPD) and two miles from St Louis Lambert International Airport.<\/p>\n
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction who was a Midwest-based private real estate investor. The buyer was in a 1031-exchange and based in Texas.<\/p>\n
The property features a 10-year lease extension. The tenant, K-MAC Enterprises, is a leading operator of Taco Bell restaurants, with more than 140 locations.<\/p>\n
\u201cSingle tenant restaurant properties with long term leases and rental escalations are the most sought-after net lease product\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 Jimmy Goodman of The Boulder Group, added, \u201cE-commerce resistant food-based retailers continue to be in high demand amongst investors especially with drive-thrus.\u201d<\/p>\n