July 6, 2022 – Justin Spillane, Kyle Danielson and Zach Smith of Horvath & Tremblay have successfully completed the sale of a Chick-Fil-A in Houston, Texas. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $4,191,780.
Chick-Fil-A is located at 7007 Gulf Freeway in Houston, Texas. The new construction Chick-Fil-A was completed in 2022 and sits on 1.33-acres of land. Chick-fil-A has a 15-year absolute triple-net ground lease with eight (8), 5-year renewal options. The Chick-fil-A ground lease calls for attractive 10% rent increases every five years throughout the primary lease term and at the start of each renewal option. The Property is strategically located adjacent to the signalized intersection of Gulf Freeway and Woodridge Drive. The Property enjoys excellent access and signage along Gulf Freeway, and also benefits from outstanding visibility from Interstate 45, which has average daily traffic counts in excess of 81,800 vehicles per day. The Property also has frontage and access along Office City Drive. The Property is part of a newly redeveloped stretch of Gulf Freeway that includes a new construction Popeye’s, Burger King, Raising Cane’s, and Lone Star Market. Chick-fil-A is also just 3-miles from the University of Houston which has an enrollment in excess of 47,000 students and more than 5,000 faculty and staff members.
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.