December 29, 2020 – Justin Spillane of Horvath & Tremblay has successfully completed the sale of an Outback Steakhouse in Austin, Texas. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $3,402,431.
Outback Steakhouse is located at 11600 Research Boulevard in Austin, Texas. The stand-alone building contains 6,176 square feet on a 2.12-acre parcel. Originally developed in 1994, Outback recently executed a new 15-year lease with four (4) 5-year renewal options demonstrating their commitment to the site and market. Outback has 11+ years remaining on a Triple Net Lease. The lease calls for 1% annual increases throughout the base term and the renewal options. Outback Steakhouse is extremely well located with excellent visibility and signage from both Research Boulevard and US Highway 183. Research Boulevard runs parallel to US Highway 183 which sees more than 137,000 vehicles per day. The property is well located in Austin, the capital of Texas with a MSA population of 2.2 million people.
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.