The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant net leased Arby\u2019s property located at 3524 Lakeland Highlands Road in Lakeland, Florida for $2,342,857.<\/p>\n
The 2,332 square foot building is located at the signalized intersection of Lakeland Highlands Road (24,388 VPD) and the entrance to Sam\u2019s Club. The property is located on an outparcel to Sam\u2019s Club, which according to Placer statistics is #1 in the region. The Arby\u2019s property is also adjacent to Lowe\u2019s Home Improvement and Bealls. Other nationally recognized tenants in the area include 7-Eleven, Truist Bank, Wendy\u2019s, CubeSmart, and several others. The area is expected to experience 3.3% annual population growth over the next 5 years.<\/p>\n
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer in the transaction. The seller was a regional real estate developer, and the buyer was a private real estate investor out of the northeast.<\/p>\n
The property featured a new 20-year ground lease that commenced in August 2022. The franchisee is an established operator that runs 47 locations. Arby’s is an American fast food sandwich restaurant chain with more than 3,300 restaurants system wide and third in terms of revenue. In October 2017, Food & Wine called Arby’s “America’s second largest sandwich chain”. Arby’s is the flagship property of Inspire Brands, the renamed Arby’s Restaurant Group, Inc.<\/p>\n