April 10, 2025 – Justin Spillane and Kyle Danielson of Horvath & Tremblay have successfully completed the sale of a Whataburger in Gilbert, Arizona. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $2,408,840.
Whataburger is located at 2590 S Market Street in Gilbert, Arizona. Whataburger has been at this build-to-suit location since 2022 and has 12+ years remaining on their Absolute NNN Ground Lease with three (3), 5-year renewal options. The lease calls for attractive 10% rental increases every five years throughout the primary lease term and at the beginning of each option period. Whataburger is well-located at the intersection of the SanTan Village Marketplace entrance and South Market Street. SanTan Village Marketplace is a 675,000-square-foot power center anchored by Walmart Supercenter and Sam’s Club. Whataburger is a quarter mile south of the 1.2 MSF SanTan Village lifestyle center, which is home to Macy’s, Dillard’s, Best Buy, Dick’s Sporting Goods, Nordstrom Rack, HomeGoods and Harkins Theatres. Located in the heart of a dense retail and commercial corridor, there are 8.3 million SF of retail, 3.3 million SF of office, 1.8 million SF of industrial, and 8,812 multifamily units within three miles of the Property, all of which drive traffic to the area and provide a captive 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.