Lee & Associates-LA North/Ventura Transacts NNN Leased Investment Sale for $2,625,000
Property is leased to Del Taco for a 20-year term
ATLANTA, GA –May 19, 2015 – Berzack Investment Property Advisors of Lee & Associates-LA North/Ventura has transacted the sale of a NNN investment asset leased to Del Taco in the suburban Atlanta city of Smyrna, GA for $2,625,000.
The leased asset, a 2,720-square-foot retail building constructed in 2014 on a one-acre site, is leased to Del Taco for a 20-year term that commenced in 2014. The lease terms also include renewal options and lease rate increases. It is located at 4300 East West Connector just south of South Cobb Drive, putting it at the intersection of two of the city’s major arteries.
“Our buyer, a private investment firm, is primarily invested in multifamily assets, and this transaction allows the company to diversify into a low-risk, low maintenance investment,” said Warren Berzack, a principal of Lee & Associates-LA North/Ventura who represented the buyer with Lee Principal Stephen Geiger. “We have seen heightened interest in these types of quality NNN leased investments by a number of our multifamily investment clients.”
Del Taco is the second largest Mexican fast food chain in the country.