August 3, 2022 – Hannah Merson, Patrick Gray, Steve Schiavello, Todd Tremblay and Bob Horvath of Horvath & Tremblay have successfully completed the sale of a Chicken Salad Chick in Pensacola, Florida. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $2,027,500.
Chicken Salad Chick is located at 5050 Bayou Boulevard in Pensacola, Florida. The stand-alone building consists of 2,842 square feet and sits on a 0.54-acre lot. Chicken Salad Chick has 6+ Years remaining on a 10-Year Double Net (NN) Lease with two (2) 5-Year renewal options. The lease calls for 10% rent increases every 5-years throughout the base term and at the start of each renewal option period. The Property has a new roof (2021) and recently sealed and striped parking lot. The property is extremely well located with outstanding visibility along Bayou Boulevard (one of the area’s primary retail thoroughfares) and is one block from Ascension Sacred Heart Hospital. The Property is close to the Cordova Mall and two colleges with more than 15,000 students. Additionally, the property is only 1-mile from Interstate 110, and is less than 5-minutes from the Pensacola International Airport.
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.