January 12, 2023 – Robert DiFranco of Horvath & Tremblay has successfully completed the sale of a Chick-Fil-A in Raleigh, North Carolina. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $3,495,000.
Chick-Fil-A is located at 7740 Fayetteville Road in Raleigh, North Carolina. The new construction Chick-Fil-A was completed in 2022 and sits on 1.50-acres of land. Chick-fil-A has a 19+ years remaining on an 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 along Fayetteville Road (US Route 401), the area’s primary commercial and commuter corridor. Chick-fil-A is shadow anchored by a new construction Costco and is across the street from a Food Lion anchored center and just seconds from a Harris Teeter anchored center, the area’s two dominant grocers. The property is adjacent to a signalized intersection that is home to several other national retailers and restaurants driving traffic to the area. Additionally, Chick-fil-A is 2.2-miles from Wake Technical Community College. The Property is located in southwestern Raleigh, approximately 9-miles from the central business district.
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.