Deal Marks SIG’s Strength in Working with Developers and Franchise Operators
Austin, TX (November 1, 2016) – Sands Investment Group (SIG), one of the fastest growing net lease firms in the nation, has announced the $2,085,000 sale of a Dickey’s Barbecue Pit located at 2701 N County Rd in Odessa, TX. Dickey’s Barbecue Pit is a family-owned American barbecue restaurant chain based in Dallas, Texas. Dickey’s was recognized as a top ten growth chain by National Restaurant News.
Max Freedman of SIG’s Austin, TX office represented the seller, Dynamic Development, in the sale. The 1031 exchange buyer paid all cash for the 2,000 square-foot restaurant with drive-thru. Dickey’s has a long-term, 15-year lease commencing upon opening for business.
In 2015, Freedman worked with the developer of the Dickey’s site to scout underutilized locations ideal for a national tenant. SIG helped to secure a site and negotiate long-term flexible contracts to allow the developer time to secure a tenant and get plans through the city. Once the project broke ground, the developer was ready to locate a buyer. Within two weeks of marketing the property, SIG was able to identify a 1031 exchange buyer. This established a base line for the developer to draw on additional credit to continue building for the franchisee.
“SIG has done a tremendous job locating solid opportunities for us as a development team in Texas. We are impressed with their knowledge and research to uncover opportunistic deals,” said Dan Porter, vice president of acquisitions, Dynamic Development. The developer has more than 50 years of experience in retail and multi-family development.
“Dynamic Development is one of our more creative clients that we work with and have shown tremendous persistence in bringing deals to the finish line,” said Freedman. “Creativity is key in a hot investment market.”
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.