Transaction Underscores SIG’s Expertise in Working with Developers to Support Franchise Expansion
Charleston, SC (December 13, 2016) – Sands Investment Group (SIG), one of the fastest growing net lease firms in the nation, has announced the $2,580,059 sale of a newly-constructed Bojangles’ Famous Chicken ‘n Biscuits located on 100 E. Hugh Street in North Augusta, South Carolina.
Doug Roland and Chris Sands of SIG represented the seller, GTCSRA Inc. in the NNN transaction for a cap rate of 7 percent. A West Coast buyer purchased the property as a long-term hold for cash flow and strong yield. The sale marks the fourth Bojangles’ sold by SIG for this developer/owner. The firm is on track to handle six Bojangles’ sales by year-end.
“The franchisee, Bojland Restaurant Group, is a 13-unit operator and very strong franchisee for Bojangles’ in the states of Georgia, South Carolina, and Alabama. We have been selling the stores as completed in order to create capital for the developer, GTCSRA, Inc., to further expand the franchisee’s portfolio,” Roland said.
Bojangles’ Famous Chicken ‘n Biscuits is a southeastern regional chain of fast food restaurants with over 680 locations in 12 southeast and mid-Atlantic states. Bojland Restaurant Group is a family operator of Bojangles’ restaurants. In 2015 Bojland Restaurant Group,Inc. was named “Outstanding Small Operator of the Year” by Bojangles’ parent corporation.
“Our objective was to drive multiple offers on this asset in a very short amount of time in order to create capital for the next development. The developer has already reinvested in expanding, building the first Bojangles’ in the Montgomery, Alabama market,” Roland added.
About Sands Investment Group: Sands Investment Group is a commercial real estate brokerage firm that specializes in the buying and selling of net lease properties for private investors and institutions across the United States. Since its founding in 2010, SIG has closed over 900 plus transactions worth more than $2.6 Billion in 45 states. Advisors with the company currently have over $350 million in active inventory. As a leader in the industry, SIG was first to offer true sub-product type specialization. The firm’s experience in net lease, retail, office and industrial transactions is unparalleled. Sands Investment Group has offices in Santa Monica, CA, Charleston, SC, Atlanta, GA, and Austin, TX. Learn more at www.signnn.com.