The deals might not seem unusual: Colliers International|Greater Cincinnati negotiated the sale leaseback of two restaurants in the Cincinnati area last month, a TGI Friday’s in West Chester and another TGI Friday’s in Colerain. But the sales are indicative of a larger trend here: Single-tenant buyers have been extremely busy in the Cincinnati market.
Since the beginning of 2017 alone, the Colliers team of Chris Prosser, Steve Timmel and Jeff Johnston have closed more than $60 million of single-tenant NNN deals.
And these team members say there are no signs that the high demand for single-tenant buyers here is going to level off anytime soon.
“Demand for high-quality, single-tenant assets remains very strong, which we expect to continue into the foreseeable future,” said Prosser, in a statement. “Tenants in single-tenant leases typically commit to long-term leases. This minimizes risk and attracts investors who want hands-free investments.”
The West Chester TGI Friday’s sold for $2.164 million while the restaurant in Colerain sold for $3.137 million.
