Charleston, South Carolina (August 7, 2017) – – Sands Investment Group (SIG), one of the fastest growing net lease firms in the United States, has announced the sale of a McDonald’s, located adjacent to a Walmart Neighborhood Center, just outside the gates of the Naval Weapons Station of Charleston, South Carolina.
Doug Roland, Chris Sands, and Clifton McCrory of SIG represented the owner and developer, Avtex Commercial Properties, and the buyer, a Southern California-based private family investor, in the $2.2 million 1031 exchange transaction. The property, located at 1645 Red Bank Road in Goose Creek, South Carolina, traded at a 4.32% cap rate.
According to SIG, this was a good fit for the buyer who was looking for an asset with investment-grade credit. “The initial challenge was an aggressive pricing expectation which was fully warranted by the credit of the tenant McDonald’s,” said Roland. “The buyer pool is beginning to look for higher cap rate deals and taking on more risk in order to capture better yield. For this reason, SIG needed to isolate and identify the right buyer from the shrinking number of qualified investors that were still making premium credit ratings a priority in their investment strategy.”
Roland added, “A credit to the persistence and focus of our team was the ability to identify a highly-qualified private investor that closed within 30 days of contract execution.”
“Doug and Chris Sands made what could have been a very difficult and time-consuming deal into a seamless process. While this was a complicated property they made it simple to transact and worked well with a unique buyer,” said Paul Holder of AVTEX Commercial Properties, Inc.
According to SIG, fast food assets in the triple net space continue to be a favorite among investors for many reasons, not the least of which is the inability of internet-based retailers to interfere. “I think we will continue to see great demand for QSR and casual dining,” said Roland.
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 1,000 transactions worth more than $3 billion in 48 states. Advisors with the company currently have over $600 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 Charleston, SC, Santa Monica, CA Atlanta, GA, and Austin, TX. Learn more at www.signnn.com.