May 25, 2021 – Kyle Danielson and Dan Bernardini of Horvath & Tremblay have successfully completed the sale of Bojangles’ in Gastonia, North Carolina. Horvath & Tremblay procured the buyer to complete the transaction at a sale price of $2,165,000.
Bojangles’ is located at 1657 Bessemer City Road in Gastonia, North Carolina. The stand-alone building consists of 2,674 square feet and sits on a 1.265-acre lot, and benefits from a drive-thru. Bojangles’ has been at this location since 1990 and has 8+ years remaining on a long-term, absolute triple net (NNN) lease with three (3), 5-year renewal options. The corporate lease calls for a rent increase in 2027 and at the start of each renewal option. Bojangles has demonstrated their commitment to the site by exercising multiple lease renewals and the property was extensively remodeled (interior and exterior) in 2020. The location benefits from its proximity to Interstate 85, which connects Gastonia with Charlotte, and the large industrial workforce in the immediate area. Bojangles is one of the only national fast-food retailers serving the immediate area, which is further illustrated by the locations above average store sales.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.