Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has completed the $1,688,171 sale of a Hardee’s restaurant building located in Murfreesboro, within the Nashville metropolitan area.
At the time of the purchase, Hardee’s occupied the building with a 20-year absolute triple-net (NNN) ground lease in place. The lease is corporate guaranteed by Hardee’s, a quick-service restaurant chain operating more than 1,900 locations, primarily in the South and Midwest.
The building, which was newly constructed in 2015, is surrounded by national retailers and major employers. The property sits across from the newly renovated Kroger shopping center, Walgreens, and Starbucks and near a new 24-hour Walmart Supercenter. Major nearby employers include the General Mills facility, an Amazon distribution center, and Middle Tennessee State University, which together generate roughly 3,000 employees and potential patrons.
Ryan Barr and of Lee & Associates – North San Diego County represented the buyer, Sisk, LLC, in the purchase of the property as part of a 1031 exchange. The seller, Murfreesboro 231 Partners, G.P. was represented by Marcus and Millichap.
“This property was an ideal investment opportunity for our client,” explain Barr. “The long-term lease requires zero landlord management responsibilities from a credited tenant, offering the buyer a hands-free investment.”
Barr & Bennett Net Leased Investment Group, of Lee & Associates-North San Diego County, specialize in the acquisition and disposition of net leased assets nationwide.