Lee & Associates – North San Diego County Negotiates the $2.7 Million Sale of Jack in the Box in Houston
Houston, TX—November 3, 2015—Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has closed the $2,270,000 sales transaction for a 2,633 square-foot building occupied by Jack in the Box in Houston, Texas.
Located in a dense residential and commercial area, at the corner of North Elderidge Parkway and Tanner Road, Jack in the Box has successfully operated at this location for 18 years. Prior to the sale of the property, Jack in the Box had recently renewed their absolute triple-net lease on the space for an additional 12 years with four 5-year options to renew.
Ryan Barr and Ryan Bennett, founders of Barr & Bennett Net Leased Investments and Principals at Lee & Associates – North San Diego County represented the seller, Niki Holdings, LP. The buyer, a private investor, purchased the property as part of a 1031 tax deferred exchange.
Bennett stated, “We are continuing to see a nationwide increase in demand for triple net-leased investments. Absolute triple net investments are ideal investment opportunities because they require zero landlord management responsibilities. Within only 10 days we were able to secure a buyer from our own proprietary database and complete the closing.”
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 & Associates
Celebrating 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.