The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Longhorn property located at 2636 Dallas Highway in Marietta, Georgia for $3,157,000.
The 5,160 square foot building is strategically positioned along Dallas Highway (37,500 VPD) and is less than one mile east of NC-55 Bypass (60,331 VPD). The property is located in a dense retail corridor with tenants including Target, Lowe’s, Home Depot, Publix, Chase Bank, Wells Fargo, Starbucks, Chick-fil-A, and many others. There are nearly 150,000 people living within a five-mile radius. The property is situated in an affluent area, with an average annual household income of over $165,000 within a three-mile radius.
LongHorn Steakhouse has a triple net ground lease with over 10 years remaining. There are 10% rent increases every five years that continue through the two 5-year renewal options.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the Seller in the transaction. The Seller was an Atlanta-based real estate developer, and the Buyer was a high-net worth individual in a 1031 Exchange based in California.
LongHorn Steakhouse is a prominent casual dining chain established in 1981. It was founded in Atlanta, Georgia and is a subsidiary of Darden Restaurants. There are 563 LongHorn locations as of September 2023.
“Investors gravitate towards assets in populous and growing Sun Belt MSAs such as Atlanta,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Long term leases to well-known tenants like LongHorn Steakhouse remain attractive investments.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high-net-worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $9 billion of single tenant net lease real estate transactions. From 2013-2023, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago and has an office in Denver.
More info: www.bouldergroup.com
Media Contact
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email: Send Email
Phone: 8478816388
Address:3520 Lake Avenue Suite 203
City: Wilmette
State: Illinois
Country: United States
Website: https://www.bouldergroup.com/NNN-Properties-For-Sale.html