September 23, 2016 – Matthew Nadler and Brian Ahrens of Horvath & Tremblay, have successfully completed the sale of a free standing KFC and Taco Bell located in New England. Matthew worked exclusively with the seller and Brian procured the local 1031 exchange buyer to fulfill their exchange requirement. The property closed at a sale price of $1,660,000, a 7.1% cap rate.
KFC/Taco Bell signed the original 20-year triple net (NNN) lease in March 2000 which includes (2) five year options. This is a well-established location with a strong operating history and increasing sales year over year for the past five years. KFC/Taco Bell is franchisee operated by G.F. Enterprise LLC, which is a 28-unit YUM! operator with Taco Bells, Pizza Hut/Taco Bells, and KFC locations throughout the northeast. The property is well-positioned at a highly visible location with direct street frontage along Key Road and is positioned as an out parcel to Key Road Plaza, a 76,134 – square foot shopping center anchored by Staples, TJ Maxx, Dollar Tree, and Petco. The Center provides a regional draw of shoppers coming from the areas of New Hampshire, Vermont, and Massachusetts. Additional national tenants in the area include: Dunkin Donuts, Applebee’s, Town Fair Tire, Aldi, Wendy’s, Price Chopper, Starbucks, McDonald’s, CVS Pharmacy, Walgreens, Aspen Dental, Sleepy’s, AutoZone, Five Guys, Rent A Center, Dollar Tree, The Home Depot, Target, Bed Bath & Beyond, Rite Aid, Dick’s, and Walmart.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.