Northbrook, IL, June 07, 2017 --(PR.com
)-- The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net lease Arby’s Restaurant located at 3710 Easton Nazareth Highway in Easton, Pennsylvania for $1,700,000.
The 2,750 square foot Arby’s Restaurant is well located within the dominant retail destination along the areas primary east-west thoroughfare. The property is also less than one-quarter mile east of Pennsylvania Route 33 with direct on and off access. The Arby’s Restaurant is surrounded by a number of major retail developments. Northampton Crossings, a 622,000 square foot development anchored by a Walmart Supercenter, also features Sam’s Club, Sears, Kohl’s, Hobby Lobby and a Regal Cinema. Directly across the street is Lower Nazareth Commons, a 292,000 square foot development that features Target, Five Below, Petco and Starbucks. Other notable retailers in the immediate vicinity include Wegmans, PNC Bank, AT&T Wireless and a number of restaurants.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the seller and purchaser in the transaction. The seller was an east coast real estate investment company and the purchaser was a west coast based real estate investor.
The Arby’s Restaurant recently executed a new ten year lease expiring in April 2027. The lease features 3% rental escalations in year five and nine of the primary term and in the four 5-year renewal option periods. Arby’s is a leading international quick-service restaurant company that specializes in deli-style sandwiches. Arby’s is the second-largest quick-service fast-food sandwich restaurant chain in the U.S. in terms of units and third-largest in terms of revenue.
“Properties priced below $2 million with corporate guarantees continue to garner significant interest amongst private investors,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Single tenant quick service restaurants with long term leases continue to be in the great demand.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $4 billion of single tenant net lease real estate transactions. From 2011-2016, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com