June 16, 2022 – Jack Laurendeau of Horvath & Tremblay has successfully completed the sale of Pizza Hut in Cheyenne, Wyoming. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $925,000.
Pizza Hut is located at 5320 Yellowstone Road in Cheyenne, Wyoming. Pizza Hut has been at this location for more than 40 years and recently completed a sale-leaseback, executing a new 15-year Absolute NNN lease with four, (4) 5-year renewal options remaining. The lease calls for attractive 10% rent increases every five years throughout the base term and at the start of each renewal option. The location is operated by Grand Mere Restaurant Group, one of the largest Pizza Hut franchisees in the country with approximately 145 locations. Pizza Hut is well-located along Yellowstone Road, one of the primary commercial corridors in the area. The Property enjoys outstanding frontage and visibility and has exposure to more than 18,000 vehicles per day. The Property is conveniently located in close proximity to the Cheyenne Workforce Center and the Internal Revenue Service (IRS) Taxpayer Assistance Center. Additionally, the property is scheduled to undergo a remodel later in the year, which will include an interior and exterior renovation.
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.