September 30, 2021 – Michael Talbert of Horvath & Tremblay has successfully completed the sale of a Sonic in Boynton Beach, Florida. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $1,722,683.
Sonic is located at 320 Winchester Park Boulevard in Boynton Beach, Florida. The stand-alone building consists of 1,767 square feet on 1.37-acres of land. This is a sale leaseback of the Property, and Sonic signed a new 20-year Triple Net Lease with four, 5-Year Options at the close of escrow. The lease features attractive 1.5% annual rent increases throughout both the current term and the option periods. Sonic’s lease is guaranteed by a strong operator that has more than 65 locations. The property benefits from being well-positioned in a highly dense retail corridor consisting of major national and local tenants, shopping centers, and academic institutions all within close proximity. Major national tenants include Target, Publix, Walmart, Best Buy, CVS, Walgreens, Dollar Tree, Chick-fil-A, Chipotle, Wendy’s, Five Guys, Dunkin Donuts, and many more. The property also benefits from Boynton Beach Mall located less than a mile away featuring 115 retailers. Additionally, the property is located less than a mile from Congress Middle School with a total enrollment exceeding 1,200 students.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the 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.