August 30, 2019 – Kyle Danielson and Brad Canova of Horvath & Tremblay have successfully completed the sale of Burger King in La Cruces, New Mexico. Horvath & Tremblay procured the 1031 exchange buyer to close the sale at a price of $2,770,000 a 5.6% cap rate.
The newly constructed Burger King will operate under a rare, 20-year absolute triple net lease with zero landlord responsibilities. Fixed 10% rental increases are scheduled throughout the initial term providing for a hedge against future inflation. The restaurant will be operated by a successful franchisee operator with over 40 years of experience and 35 locations under management. The Property benefits from its location across from New Mexico State University and unmatched visibility and identity along E. University Avenue.
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.