December 17, 2021 – Michael Talbert, Kyle Danielson and Dan Bernardini of Horvath & Tremblay have successfully completed the sale of a Red Lobster in Matthews, North Carolina. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $4,476,348.
The Red Lobster is located at 9801 Independence Point Parkway in Matthews, North Carlina. The Property was constructed for Red Lobster in 2012. Red Lobster has 17+ years remaining on their triple net lease with four, 5-year renewal options. The tenant’s rent includes 2% annual increases throughout their base term and renewal options. The Property is strategically located along Independence Pointe Parkway and has frontage and visibility along US Highway 74, the primary commercial and commuter highway connecting Matthews with downtown Charlotte. The Property benefits from outstanding visibility and frontage along both Independence Pointe Parkway and US Highway 74 and is surrounded by national retailers driving traffic to the area. Approximately 54,000 vehicles pass the site daily. Matthews is 9-miles southeast of Charlotte, the largest city in North Carolina and the third fastest growing city in the country.
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.