The Boulder Group, a net lease investment brokerage firm completed the sale of a single tenant Burger King located at 13703 US Hwy 441 S in Lake City, Florida for $1,847,826.
The Burger King property is ideally located just off of Interstate 75. The property is positioned within the Jacksonville MSA which is ranked #40 in the United States for population size. Retailers found nearby include Love’s Travel Stop, Chevron Gas Station, Pit Stop, and Dollar General. The average annual household income within five miles of the property is $57,301. Florida is an income tax free state.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer in the transaction. The buyer was based in the Midwest and in a 1031 exchange. The seller was a southeast based real estate firm.
This Burger King ground lease has a 15-year term that commenced in January 2022. The lease is a triple net ground lease with 7.5% rental escalations. Founded in 1954, Burger King is the second largest fast food hamburger chain in the world. The original Home of the Whopper, Burger King is commitment to premium ingredients, signature recipes, and family-friendly dining experiences which is what has defined their brand for more than 50 successful years.
“E-commerce resistant retailers including tenants in the QSR sector continue to be in high demand amongst investors,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “1031 trade buyers have significant interest in Florida based assets due to the tax free nature of the state.”
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 $6 billion of single tenant net lease real estate transactions. From 2012-2021, 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.
More info: www.bouldergroup.com
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email: Send Email
Address:3520 Lake Avenue Suite 203
Country: United States