April 9, 2024 – Rob DiFranco and Joe Pellecchia of Horvath & Tremblay have successfully completed the sale of Texas Roadhouse in Sanford, Florida. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $3,200,000.
Texas Roadhouse is located at 100 Towne Center Boulevard in Sanford, Florida. The Property was recently renovated and contains an 8,005 square foot building positioned on a 1.67-acre parcel. Texas Roadhouse has 9+ years remaining on their Absolute NNN Ground Lease with three (3), 5-year renewal options. The lease features attractive 10% rent increases throughout the primary lease term and at the start of each renewal option. This location is a critical facility for Verizon; in addition to their typical sales floor, the larger footprint is used as a regional corporate office and training center. The Property is well located at the signalized intersection of Towne Center Boulevard and FL Route 46. The Property is located within a heavily developed commercial cluster running parallel along Interstate 4 and spanning from SR 417 to SR 46. The area is home to the Seminole Towne Center (enclosed mall), and countless national retailers and restaurants that drive traffic to the area. Additionally, the Property is surrounded by densely populated residential neighborhoods and apartment communities that provide a built-in customer base. The Property also enjoys convenient access to SR 46, SR 417, US Route 17, and Interstate 4.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in 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.