December 5, 2018 – Jeremy Black and Brad Canova of Horvath & Tremblay have successfully completed the sale of Chili’s Grill and Bar in Orlando, Florida. Horvath & Tremblay procured the buyer to close the transaction at a sale price of $4,258,150, a 5.0% cap rate.
Chili’s Grill and Bar operates under an absolute Triple Net lease with 15-years remaining and no landlord responsibilities. The Corporate guaranteed lease provides for 1.5% annual increases during the primary lease term. Chili’s has over a 23-year operational history at this location situated near the main entrance of the Walt Disney World Resort and off of Interstate 4. Located near Sheraton, Fairfield Inn & Suites, Hyatt Place, Staybridge Suites, Wawa, Walgreens, Grand Villas Resort, Dunkin’ Donuts, Shell, 7-Eleven, Pizza Hut, and Winn-Dixie, there are strong demographics in Orlando, FL with average household incomes of $122,847 within a 1-mile radius of the subject property.
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.