September 14, 2021 – Stavros Filippidis, Brian Triglione, Brad Canova and Tom Connor of Horvath & Tremblay have successfully completed the sale of a Sonic in Demopolis, Alabama. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $1,531,532.
Sonic is located at 407 Highway 80 W in Demopolis, Alabama. The stand-alone building consists of 1,356 square feet on 1.00 acre of land. This is a sale leaseback of the Property, and Sonic signed a new 20-year Triple Net Lease with four, 5-Year Options at the close of escrow. The lease features attractive 1.5% annual rent increases throughout both the current term and the option periods. Sonic’s lease is guaranteed by a strong operator that has more than 65 locations. The property benefits from a strategic location in a dense retail, industrial, and transportation corridor. This Sonic is conveniently located near the city’s premier hospital and schools, with Demopolis High School enrollment numbers surpassing 700 students. Major retail tenants in the surrounding area include Walmart, CVS, Dollar General, Advance Auto Parts, O’Reilly Auto Parts, Dollar Tree, Tractor Supply Co., Aaron’s, Verizon, Enterprise, McDonald’s, Wendy’s, KFC, Burger King, Pizza Hut, and Domino’s, among others. Although US Route 80 already makes Demopolis and the property easily accessible, an Interstate 59/20 extension approaching development will help bring even more traffic to the immediate area.
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.