March 18, 2019 – Kyle Danielson of Horvath & Tremblay has successfully completed the sale of Checkers and Lakeland, Florida. Horvath & Tremblay represented the exchange buyer in the transaction that closed at a sale price of $880,000.
Checks operates under a triple net, corporate guaranteed lease with over 10 years of lease term remaining. Checkers recently executed their second lease option and has two additional remaining 5-year options with rental escalations of 10% every 5 years throughout the remaining lease term and option periods. Checkers is located near the signalized, hard corner intersection of E. Edgewood Drive and Florida Avenue which boast combined traffic counts of 61,100 vehicles per day. Located within 2.5 miles is Lakeside Village, a 558,000-square foot shopping center anchored by Belk, Bed Bath & Beyond, and Kohl’s. Nearby national credit tenants include Walmart Supercenter, Target, Hobby Lobby, Publix Supermarket, and many others.
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.