October 18, 2021 – Zach Smith of Horvath & Tremblay has successfully completed the sale of Bojangles’ in Knoxville, Tennessee. Horvath & Tremblay procured the buyer, to complete the transaction at a sale price of $2,991,453.
Bojangles’ is located at 505 Lovell Road in Knoxville, Tennessee. The stand-alone building consists of 3,334 square feet and sits on a 0.89-acre lot, and benefits from a drive-thru. Bojangles’ has approximately 12 years remaining on a long-term, absolute triple net (NNN) lease with three (3), 5-year renewal options. The lease calls for 7.5% rent increases every five (5) years throughout the base term and option periods. The property is located approximately 14 miles west of downtown Knoxville in the high-profile Turkey Creek community and was developed in 2007. The restaurant is owned and operated by the largest and most successful franchisee in the Bojangles’ system. The property is well positioned in the heavily developed and highly desirable Turkey Creek trade area. Turkey Creek boasts more than 300 acres of space zoned for retail shopping outlets, medical facilities, theaters, office space, banks, restaurants, and hotels.
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.