Mohr Capital, a Dallas-based privately held real estate investment firm, has sold a ground lease in Steubenville, Ohio, occupied by Texas Roadhouse to a private investment company.
The retail property is an about one-acre outparcel in a highly visible, high-performing location across the street from Fort Steuben Mall, nearly 40 miles west of Pittsburgh, Pennsylvania.
Upon acquisition, Mohr Capital worked with Texas Roadhouse Inc. to create initial rent relief and the restaurant agreed to extend its lease long term.
Mohr Capital acquired the ground lease in 2019 upon the launch of its retail acquisition and redevelopment division, citing the property’s solid real estate fundamentals and the financial strength of operator Texas Roadhouse Inc., a publicly traded restaurant operator with more than 630 restaurants system-wide in 49 states and 10 foreign countries. The Steubenville location is a corporate-owned restaurant.
Rob Solls, director of retail investments and acquisitions for Mohr Capital, represented Mohr Capital in the transaction. The Mansour Group procured the buyer.