The Boulder Group, a net leased investment brokerage firm, has completed the sale of an Arby’s ground lease located at 8720 Manchester Road in Brentwood, MO for $1,250,000.
The 43,562 square foot Arby’s property is located along Manchester Road, a primary east-west thoroughfare that experiences traffic counts in excess of 20,000 vehicles per day. The surrounding area is densely concentrated with commercial buildings providing high barriers to entry. Additionally, the property is located less than one and one-half miles from the intersection of Interstate 64 and Interstate 170, which experiences traffic counts in excess of 300,000 vehicles per day. The surrounding area is densely populated with over 107,000 people living within a three mile radius earning average annual household incomes in excess of $93,000. The Arby’s is an outparcel to an Office Depot and Ace Hardware anchored center. The property is located approximately one and one-half miles from the Saint Louis Galleria, a 1.2 million square foot mall that is anchored by Apple, Nordstrom, Macy’s, and Dillard’s.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a private local investor. The purchaser was a Midwest based private investor.
The Arby’s ground lease has over ten years remaining and features 10% rental escalations every five years. There are four 5-year renewal option periods. The lease is guaranteed by US Beef Corporation, the largest Arby’s franchisee with over 320 locations.
“The market for ground lease properties below two million dollars remains active as private investors continue to invest in net lease real estate” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Core market single tenant assets with long term leases continue to be in the greatest demand.”
The 43,562 square foot Arby’s property is located along Manchester Road, a primary east-west thoroughfare that experiences traffic counts in excess of 20,000 vehicles per day. The surrounding area is densely concentrated with commercial buildings providing high barriers to entry. Additionally, the property is located less than one and one-half miles from the intersection of Interstate 64 and Interstate 170, which experiences traffic counts in excess of 300,000 vehicles per day. The surrounding area is densely populated with over 107,000 people living within a three mile radius earning average annual household incomes in excess of $93,000. The Arby’s is an outparcel to an Office Depot and Ace Hardware anchored center. The property is located approximately one and one-half miles from the Saint Louis Galleria, a 1.2 million square foot mall that is anchored by Apple, Nordstrom, Macy’s, and Dillard’s.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a private local investor. The purchaser was a Midwest based private investor.
The Arby’s ground lease has over ten years remaining and features 10% rental escalations every five years. There are four 5-year renewal option periods. The lease is guaranteed by US Beef Corporation, the largest Arby’s franchisee with over 320 locations.
“The market for ground lease properties below two million dollars remains active as private investors continue to invest in net lease real estate” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Core market single tenant assets with long term leases continue to be in the greatest demand.”
