October 12, 2016 – Brian Ahrens of Horvath & Tremblay has successfully procured the buyer to complete the sale of Taco Bell in Forest City, North Carolina. Brian worked exclusively with the 1031-exchange buyer to close the sale price of $1,965,217, a 5.75% cap rate.
Located along US Highway 74A Bypass in Forest City, the free standing 2,159-square foot property was built-to-suit for Taco Bell who operates under a new 20-year absolute triple net lease. Attractive rental escalations are scheduled every five years throughout the base term of the lease each at the beginning of each of the (4) five year options. With over 30 years of operating history in the Forest City market and strong historical sales, Taco Bell elected to relocate to this site from its previous location approximately one half mile away. The property is positioned along a main retail thoroughfare with national tenants including: Aldi, Holiday Inn, Chili’s Grill & Bar, Lowe’s, Bojangle’s, Sonic, National Tire & Battery, Walmart Supercenter, Staples, Dollar Tree, Tractor Supply Co., AutoZone, Burger King, McDonald’s and Advanced Auto Parts.
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.