April 11, 2017 – Brian Ahrens, Bob Horvath and Todd Tremblay of Horvath & Tremblay, have successfully completed the sale of Taco Bell in Jackson, Mississippi. Horvath & Tremblay procured the 1031 exchange buyer to close the property at a sale price of $3,150,000, a cap rate of 5.86%.
Taco Bell fully occupies the 2,716-square foot property operating under a triple net lease with over 19 years of lease term remaining. This Taco Bell location is operated by Pacific Bells, LLC, a leading franchisee who operates over 110 Taco Bell restaurants in four states nationwide since opening for business in 1989. Located on a hard corner, the Property is accessible through both its main entrance on US-80 and a local point of ingress/egress with drive through access on John R. Lynch Street. In the past year, the Property has undergone a re-imaging process, converting the building’s format to a more modern, sleek design that only new construction would bring otherwise. Located within two miles of the property is Jackson State University and Jackson’s downtown district is located within a 10-minute drive. National tenants located in close proximity include: KFC, Burlington Coat Factory, Finish Line, Family Dollar, Save A Lot, AutoZone, DQ, Advance Auto Parts, Subway, Dollar Tree, Pizza Hut, McDonald’s, Wendy’s and Churches Chicken.
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.