Lee & Associates – North San Diego County Negotiates the $1.167 Million Sale of Burger King in Waterford, WI
WATERFORD, WI—January 8, 2016— Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has completed a $1,167,000 net-leased investment sale of a restaurant property occupied by Burger King. The property, located at 2723 Beck Drive in Waterford, Wisconsin, consists of a 3,786 square-foot building on a 38,333 square-foot lot.
At the time of the sale, more than 19 years remained on the property’s lease with Southern Wisconsin Foods, LLC dba Burger King. Southern Western Foods, LLC, is the operator of 17 Burger King units throughout the state of Wisconsin. Burger King is the second largest fast food hamburger chain in the world.
“This was a passive investment opportunity for the buyer with a new long term absolute triple-net (NNN) lease in place,” explained Ryan Bennett of Lee & Associates – North San Diego County. “The tenant had recently signed a long-term lease with annual rent increases, allowing the buyer nearly 20 years of passive income with zero management responsibilities.”
Bennett, along with partner, Ryan Barr, also of Lee & Associates – North San Diego County, represented both the seller, CRE Waterford, LLC and the buyer, Waterford-LP, LLC, in the transaction.
Barr continued, “The transaction was also advantageous for the seller. Our team was able achieve a full asking priceand procure a buyer from our own proprietary database, allowing the seller to trade the property at its peak value.”
Barr & Bennett Net Leased Investment Group, of Lee & Associates-North San Diego County, specialize in the acquisition and disposition of net leased assets nationwide.
About Lee & AssociatesCelebrating more than 36 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the country with locations across the nation including California, Colorado, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Pennsylvania, South Carolina, Texas, and Wisconsin. With more than 800 brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level. For the latest news from Lee & Associates, visit lee-associates.com or follow us on Facebook, LinkedIn and Twitter.