March 28, 2024 – Jack Laurendeau of Horvath & Tremblay has successfully completed the sale of Pizza Hut in Akron, Ohio. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $1,200,000.
Pizza Hut is located at 1591 Copley Road in Akron, Ohio. The Property consists of a 1,749 square foot building on a 0.41-acre parcel. The Property features Pizza Hut’s best-in-class pick-up window for mobile ordering designed to enhance the customer experience and drive sales. Pizza Hut signed a new 20-year Absolute NNN Lease in 2022 and has 17+ years remaining on their lease with six (6), 5-year renewal options. The Pizza Hut lease calls for attractive 1.75% annual rent increases beginning in year 7 and continuing throughout the primary lease term and renewal options. The location is operated by SFR XI Holdings, LLC, the 11th largest Pizza Hut franchisee, operating 124 Pizza Hut restaurants in four contiguous states: Ohio, West Virginia, Pennsylvania, and Indiana. Pizza Hut is situated on the western edge of Akron along Copley Road (OH Route 162), the area’s primary commercial and commuter corridor and benefits from outstanding frontage and visibility. The Property is located at the junction with Interstate 77 and is surrounded by densely populated residential neighborhoods providing a built-in customer base.
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.