August 8, 2019 – Brian Ahrens of Horvath & Tremblay has successfully completed the sale of Applebee’s in Warsaw, Indiana. Horvath & Tremblay procured the 1031 exchange buyer to complete the transaction at a sale price of $2,875,000.
Applebee’s fully occupies a 6,143-square foot building located along E Center Street in Warsaw. The Tenant operates under an absolute NNN lease with over 15 years remaining on the base term of the lease with two, 5-year option periods. Rare annual rental escalations of 1% are scheduled throughout the primary term and option periods. The Property benefits from its highly visibly location from Lake City Highway 30 and easily accessible from surface roads. At Warsaw’s most prominent crossroads, the surrounding assets reflect both retail and hospitality uses. Tenants include Dunham’s Sports, Claire’s, Taco Bell, Burger King, Long John Silvers, Hampton Inn, Comfort Inn and Verizon. The community hospital is nearby.
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.