September 15, 2023 – Russell Verzino of Horvath & Tremblay has successfully completed the sale of Sonny’s BBQ in Kingsland, Georgia. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $3,475,000.
Sonny’s BBQ is located at 1380 Boone Street in Kingsland, Georgia. Upon the close of escrow Sonny’s BBQ signed a new 18+ year Absolute NNN lease with six (6), 5-year renewal options. The Property was renovated in 2022 and consists of a 5,832 square foot building on a 1.5-acre parcel. The lease calls for attractive 1.5% annual rent increases throughout the primary lease term and each renewal option providing a steady increase in income and an attractive hedge against inflation. The property is strategically located along Boone Street which runs parallel to GA Route 40, the area’s primary commercial and commuter corridor. The property benefits from outstanding visibility and frontage along US Route 72 and benefits from excellent traffic counts. The property sits in the heart of a dense retail corridor and is surrounded by national retailers including Walmart, Publix, Lowe’s, and Winn Dixie driving traffic to the area. Additionally, the Property is 0.8-miles from Interstate 95.
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.