The Boulder Group has completed the sale of a single tenant Freddy\u2019s Frozen Custard & Steakburgers sale leaseback property located at 301 Doug Baker Blvd, Birmingham, AL for $1,833,333. Zach Wright and Brandon Wright represent the seller and purchaser in the transaction. The seller was a Freddy\u2019s franchisee and the purchaser was a Midwest-based 1031 exchange investor.<\/p>\n
The Freddy\u2019s Frozen Custard & Steakburgers is positioned within a regional retail destination that includes a Publix, Dick\u2019s Sporting Goods, Golf Galaxy, Hobby Lobby, AMC, and Panera. The property is located just off Highway 280 (56,000+ VPD) and in an extremely affluent area with average annual household income exceeding $173,000 within three miles.<\/p>\n
The Freddy\u2019s Frozen Custard & Steakburgers property features a new 20-year absolute triple net lease with zero landlord responsibilities and 2% annual rental increases. Freddy\u2019s has approximately 550 locations across 36 states and is one of the fasted growing chains in the United States.<\/p>\n
This was the 5th<\/sup> Freddy\u2019s Frozen Custard & Steakburgers property sold by Zach Wright and Brandon Wright within the past thirteen months. The two previously sold the four lowest cap rates ever recorded nationally for Freddy\u2019s properties according to CoStar.<\/p>\n \u201cFreddy\u2019s properties offer excellent real estate investment opportunities in addition to their made-to-order steakburgers and frozen custard. Most of their restaurants are well-located in dynamic retail trade areas and feature long-term triple net leases backed by strong franchisees. We continue to see substantial investor interest in Freddy\u2019s properties,\u201d stated Zach Wright, Vice President.<\/p>\n \u201cLow rent and low price point quick service restaurant properties continue to be highly sought after amongst net lease investors,\u201d added Brandon Wright, Associate.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" The Boulder Group has completed the sale of a single tenant Freddy\u2019s Frozen Custard & Steakburgers sale leaseback property located at 301 Doug Baker Blvd, Birmingham, AL for $1,833,333. Zach Wright and Brandon Wright represent the seller and purchaser in the transaction. The seller was a Freddy\u2019s franchisee and the purchaser was a Midwest-based 1031 […]<\/p>\n","protected":false},"author":3,"featured_media":2929,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[388],"tags":[],"class_list":["post-2928","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-net-lease-sold"],"yoast_head":"\n