News

Steak ‘n Shake Sale

DATE February 28, 2020 / AUTHOR AGM

CATEGORY Just Sold

We are happy to announce a successful closing of a Steak ‘n Shake in Hoover, Alabama. The investment was a brand new 20-year Sale-Leaseback from the current operator and the franchisee at the site. The site was a successful location for Steak ‘n Shake for over a decade and with Whole Foods as an anchor and a market that is fully built out, makes the demand for such property very high. For our client, who was looking for a safe investment, with high intrinsic value and a story, at a below market rent, this was a home run.

While there were very substantial obstacles to a successful close, through navigating the variables in a timely and careful manner, working closely with the clients and their counsel, as well as the team at the other end of the transaction, we brought it to a close.

Investment Highlights

  • Brand New 20-year Sale-Leaseback
  • Annual Rental Escalations of 1.5%
  • NNN Lease with Zero Landlord Responsibilities
  • Outparcel to Whole Foods
  • High Barriers to Entry Market
  • Strong Demographics
  • Below-market rent
  • At the Entry Point to the Shopping Center
  • Strong Retail Corridor

RECENT NEWS

Just Closed – Long Term CVS in California

by AGM

When one of our repeat clients called us to find a long term NNN drugstore, we knew we had to dig deep. Finding above average risk-adjusted returns on long term drugstores has become much more cumbersome in the last few months. After searching for a few weeks, we identified the investment and realized there will […]

OFF-MARKET – Mister Car Wash Closing in Cedar Rapids

by AGM

We are pleased to announce a closing of an off-market car wash transaction in Cedar Rapids, IA. This transaction represents an up-leg in our client’s 1031 exchange and is the final of 5 properties that they had exchanged into. This investment accomplishes the goal of increasing cash flow to the client, with a sturdy, brand […]

OFF-MARKET – New Kiddie Academy Closing

by AGM

As a part of a large effort to reposition our client’s holdings, while decreasing the inherent risk and increasing the intrinsic value of the exchange investments, we were able to source an off-market investment in the Winter Park area of Orlando. The property was a perfect fit for the client due to the long term […]