July 26, 2022 – Luke Thomson and Joseph Pellecchia of Horvath & Tremblay have successfully completed the sale of Burger King in Norcross, Georgia. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $2,030,780.
Burger King is located at 3215 Peachtree Corners Circle in Norcross, Georgia. The property is comprised of a 2,926 square foot single-tenant building with a drive-through lane on 0.93 acres of land. The property is tenanted and operated by GPS hospitality on a Triple-Net (NNN) lease through August 2035, with just under 13 years remaining in the base term and four 5-year extension options. There are attractive 7.5% increases every five-years during the base term and each option period. GPS Hospitality is one of the top three largest Burger King operators in the country with 425 +/- Burger Kings under operation. Burger King is well positioned along Peachtree Corners Circle and is across the street from a large business and industrial park with more than 20 buildings and is 1.2-miles from another large commerce park with more than 50 buildings and countless employees. Burger King is 0.2-miles from Peachtree Industrial Boulevard and GA Highway 141, which sees more than 115,000 vehicles per day and also benefits from proximity to GA Highway 140 and US Highway 23.
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.