June 30, 2023 – Todd Tremblay and Bob Horvath of Horvath & Tremblay have successfully completed the sale of KFC in West Warwick, Rhode Island. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $2,265,000.
KFC is located at 305 Quaker Lane in West Warwick, Rhode Island. The Property is part of a 2-parcel condominium, and KFC signed a new 15-year Absolute NNN Ground Lease with four (4), 5-year renewal options. The lease includes attractive 10% rent increase every 5 years throughout the primary lease term and at the start of each renewal option. KFC will be operated by D.E. Foods, a large KFC and KFC-Taco Bell franchisee with more than 50 units along the east coast. The Property is strategically located along Quaker Lane, the area’s primary commercial corridor that sees more than 34,700 vehicles per day. KFC is positioned across the street from Cowesett Corners, a 280,000 square foot shopping center leased to prominent national retailers including Stop & Shop, Petco, Applebee’s, Citizens Bank, Five Guys, and Five Below. The Property is 0.25-miles from the signalized intersection with Cowesett Road (RI Route 3) in the heart of Rhode Island’s primary retail trade area. Quaker Lane/Bald Hill Road (Route 2) serves as a connector road between the state’s two primary highways, Interstates 95 and 295.
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.