August 31, 2021 – Luke Thomson of Horvath & Tremblay has successfully completed the sale of a Taco Bell in Brush Prairie, Washington. Horvath & Tremblay procured the buyer, to complete the transaction at a sale price of $3,010,753.
Taco Bell is located at 11300 NE 119th Avenue in Brush Prairie, Washington. The stand-alone building consists of 2,042 square feet and sits on a 0.67-acre lot, and benefits from a drive-thru. The new construction Taco Bell has a 25-year Absolute NNN Lease with five (5), 5-year renewal options. The lease calls for 1.75% annual rent increases throughout the base term and each of the renewal options. The property is being constructed in Bowyer Marketplace, a new retail development, which currently hosts space to WinCo Foods, Chase Bank, ARCO Fuels, AMPM, Subway, Fairway Coffee, and several others that will be constructed in the near future. Other tenants in the area include the newly built Brush Prairie Public Library, Northwest Self Storage, and Shell Gasoline. The development is also surrounded by several residential neighborhoods (Highland Crossing, Rock Creek Commons, and the Promenade Apartments) with 4,300+ residential lots/units under construction. The property is located 25 miles northeast of downtown Portland, Oregon. There are 179,806 people living within 5 miles of the property earning an average annual income of $89,860.
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.