April 1, 2022 – Matt Nadler and Luke Thomson of Horvath & Tremblay have successfully completed the sale of Freddy’s Steakburger in Ottawa, Kansas. Horvath & Tremblay represented the seller to complete the transaction at a sale price of $2,000,000.
Freddy’s Steakburger is located at 2121 S Princeton Street in Ottawa, Kansas. Freddy’s has been at this location since it was constructed in 2016 and executed a new 15-year sale-leaseback ground lease with three (3), 5-year renewal options upon closing. The Absolute NNN ground lease lease features attractive 8% rent increases every 5-years and at the start of each of the renewal options. The Property is well located at the signalized intersection of 21st Street Terrace and S Princeton Street, the primary retail corridor running through Ottawa. The Property is an outparcel to a Walmart Supercenter with strong visibility, signage, and access along S Princeton Street and is less than ½-mile from Interstate 35 and US Route 59. The Property is surrounded by national retailers and is also less than 2-miles from AdventHealth Ottawa (the area’s only hospital) and Ottawa University.
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.