July 27, 2022 – Zach Smith, Russell Verzino, Todd Tremblay and Bob Horvath of Horvath & Tremblay have successfully completed the sale of an Andy’s Frozen Custard in St. Peters, Missouri. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $1,652,200.
Andy’s Frozen Custard is located at 601 Mid Rivers Mall Drive in St. Peters, Missouri. The newer construction Andy’s Frozen Custard was completed in 2021 and sits on 1.90-acres of land. Andy’s Frozen Custard has 8+ years remaining on their absolute triple-net ground lease with two (2), 5-year renewal options. The Andy’s Frozen Custard ground lease calls for attractive 10% rent increases every five years throughout the primary lease term and at the start of each renewal option. The Property is strategically located along Mid Rivers Mall Drive, one of the area’s primary commercial corridors, which is home to numerous national retailers. The Property is shadow anchored by a Schnucks (grocery store) anchored shopping center and shares a signalized intersection with Walgreens. The Property sees more than 23,600 vehicles per day along Mid Rivers Mall Drive and is less than 1-mile from Interstate 70. Additionally, the area is home to numerous residential developments 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.