The Boulder Group completed the sale of a single-tenant Arby’s at 10112 Maysville Road in Fort Wayne, Indiana, for $1.2 million or a 4.58 percent cap rate.
The 2,400-square-foot Arby’s property is a strategically positioned outparcel of Walmart Supercenter. Other retailers in the immediate area include Menards, Meijer, Walgreens, AT&T, Kohl’s, PetSmart and Marshalls. The property is well located along Maysville Road.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction and were able to secure the lowest cap rate on record for an Arby’s leased property at 4.58 percent, according to CoStar. The seller is a private Midwest-based partnership and the buyer is a trade buyer based in the southeast.
The new 20-year Arby’s lease features 10 percent rental escalation every five years and in each four five-year renewal option. The lease is guaranteed by Arby’s Restaurant Group, Inc. and has zero landlord responsibilities.
