December 21, 2022 – Steven Schiavello and Patrick Gray of Horvath & Tremblay have successfully completed the sale of Dunkin’ in Tulsa, Oklahoma. Horvath & Tremblay exclusively represented the buyer in this transaction at a sale price of $1,980,198.
Dunkin’ is located at 6701 S Memorial Drive in Tulsa, Oklahoma. The Property contains a new construction stand-alone building with 1,105 square feet on 1.32-acres of land. Upon close of escrow Dunkin’ signed a new 15-year Absolute NNN Lease with one (1), 5-Year Renewal Option. The lease features attractive 5% rent increases every five years throughout the primary lease term and at the start of the 5-year renewal option. Dunkin’ is well positioned along S Memorial Drive, one of the area’s dominant retail corridors. The Property is an outparcel to a Walmart Supercenter and is seconds from the Woodland Hills Mall, which is home to more than 140 stores. The Property is surrounded by national retailers driving traffic to the area and residential neighborhoods providing a built-in customer base. Tulsa is the second-largest city in the state of Oklahoma and 47th-most populous city in the United States. It is the principal municipality of the Tulsa Metropolitan Area, a region with 1,015,331 residents and the county seat of Tulsa County.
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.