The Boulder Group completed the sale of a single-tenant net-leased Arby’s ground lease property at 15676 Manchester Road in Ellisville, Missouri, for $1.355 million.
The 2,170-square-foot building was recently constructed in 2016 within an affluent community in St. Louis. The property is located at a signalized intersection along Manchester Road (US Route 66). US Route 66 is a primary east-west thoroughfare in the area and experiences traffic volume in excess of 37,000 vehicles per day.
The property is also located in a strong retail corridor with Life Time Fitness, Home Depot, Kohl’s, Target, CVS, Walgreens, Dierbergs Markets and Ross Dress for Less.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller is a Midwest based real estate company and the buyer was a private investor in a 1031 tax exchange.