The Boulder Group has completed the sale of a single tenant Freddy’s Frozen Custard & Steakburgers sale leaseback property located at 1104 Pamplico Highway in Florence, SC for $2,125,000.
Zach Wright and Brandon Wright, of The Boulder Group, exclusively represented the seller in the transaction. The seller was a Southeast-based Freddy’s franchisee and the purchaser was a California-based 1031 exchange investor. This was the 4th Freddy’s Frozen Custard & Steakburgers property sold year-to-date by Zach Wright and Brandon Wright – which is more than any other brokerage company per CoStar. The two have also sold the four lowest cap rates ever recorded nationally for Freddy’s properties.
The Freddy’s Frozen Custard & Steakburgers property is positioned at the signalized intersection of Pamplico Highway and South Pine Forest Drive. The property is across the street from MUSC Health Florence Medical Center, a leading regional medical facility comprised of 396 patient beds, more than 1,500 employees, and nearly 300 physicians.
This Freddy’s Frozen Custard & Steakburgers property features a long-term lease with annual rental increases. The tenant is an experienced franchisee with seven current locations and a development agreement to open an additional 16 stores over the next six years. Freddy’s Frozen Custard & Steakburgers has over 530 locations and ranks in the Top 10 of the Fastest Growing Chains in the U.S.
“Freddy’s properties offer excellent real estate investment opportunities in addition to their made-to-order steakburgers and frozen custard. Most of their restaurants are well-located in dynamic retail trade areas and feature long-term triple net leases backed by strong franchisees. We continue to see substantial national investor interest in Freddy’s properties,” stated Zach Wright, Vice President.
“Western-based investors covet well-located Southeast properties and are bringing aggressive pricing to these deals,” added Brandon Wright, Associate.
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 $9 billion of single tenant net lease real estate transactions. From 2013-2023, 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 and has an office in Denver.
For additional information, please visit www.BoulderGroup.com
Media Contact
Company Name: The Boulder Group
Contact Person: Zach Wright
Email: Send Email
Phone: (720) 604-2220
Address:1805 S Bellaire Street, Suite 355 Suite 355
City: Denver
State: Colorado
Country: United States
Website: https://www.bouldergroup.com/NNN-Properties-For-Sale.html
