November 5, 2018 – Matthew Nadler of Horvath & Tremblay has successfully completed the sale of the ground lease to Sonic in Littleton, Colorado. Horvath & Tremblay exclusively represented the seller and procured the buyer to close the transaction at a sale price of $710,000.
The Sonic property was completed in 2006 and contains a 5,126 square foot building, two covered car-ports and a drive thru lane on a 0.79-acre lot. Sonic has exercised their first renewal option which has three years of term remaining. The tenant has an additional three, 5-year renewal options. The triple-net lease calls for 10% rent increases at the start of each option period. The Sonic Drive-In location is corporate owned and the ground lease is fully guaranteed by parent company, Sonic Restaurants, Inc.
The Sonic Drive-In is strategically located on an outparcel at the entrance to a high-performing Safeway grocery store along the primary roadway serving the Roxborough Park section of Littleton, Colorado. The Shopping Center serves as the commercial center for Roxborough Park residents. Additional prominent retailers in the immediate area include Safeway, Starbucks, Roxborough Liquors, Chase Bank, Domino’s Pizza, Subway, Great Clips, the Douglas County Libraries and a U.S. Post Office.
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.