The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant Taco Bell located at 12420 Saint Charles Rock Road in Bridgeton, Missouri for $1,810,000.
The 3,140 square foot Taco Bell is positioned along St Charles Rock Road (25,700 VPD), a primary thoroughfare. The Taco Bell property is an outparcel to Best Buy and Office Max. Tenants making up the retail corridor include Target, ALDI, Kohl’s, Walmart Supercenter, Hobby Lobby, Floor & Décor, Chick-Fil-A, Starbucks, and many more that create the dominant retail strip. The property also shares access to St Charles Rock Road with SSM Health Hospital – St. Louis, a 487-bed healthcare facility. There are 316,452 people living within seven miles of the property earning an average annual income of $83,715. The property is also less than a quarter mile from the Interstate-270 interchange (140,700 VPD) and two miles from St Louis Lambert International Airport.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction who was a Midwest-based private real estate investor. The buyer was in a 1031-exchange and based in Texas.
The property features a 10-year lease extension. The tenant, K-MAC Enterprises, is a leading operator of Taco Bell restaurants, with more than 140 locations.
“Single tenant restaurant properties with long term leases and rental escalations are the most sought-after net lease product” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman of The Boulder Group, added, “E-commerce resistant food-based retailers continue to be in high demand amongst investors especially with drive-thrus.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $6 billion of single tenant net lease real estate transactions. From 2012-2020, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com
Company Name: The Boulder Group
Contact Person: Randy Blankstein
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Address:3520 Lake Avenue Suite 203
Country: United States