Hanley Investment Group Sells Taco Bell Locations in Iowa, Missouri

0


Hanley Investment Group Real Estate Advisors arranged the sale of three Taco Bell single-tenant net rental commercial properties in Iowa and Missouri to three separate buyers. The combined value of sales was approximately $ 7.4 million and traded at record cap rates.

In the past 24 months, Hanley Investment Group has sold $ 400 million worth of commercial properties in the Midwest.

Hanley Investment Group Executive Vice Presidents Jeff Lefko and Bill Asher and Senior Partner Beau Velten, as well as Managing Director Jeff Christian of First Street Brokerage, in association with ParaSell, Inc., represented the Seller, a company of private investment based in the San Francisco Bay Area. , in the sale of a new 2,053 square foot Taco Bell drive-thru building built in 2020 on 0.68 acres at 5700 East Bannister Road in Kansas City, Missouri.

The buyer was a private investor based in Springfield, Missouri, and was represented by Brad Thessing of Thessing Commercial Properties of Fremont Hills, Missouri. The sale price, which could not be disclosed, was the second lowest cap rate for a single-tenant Taco Bell in Missouri in the previous 36 months, according to Lefko.

In Bethany, Missouri, Lefko, Asher and Velten of Hanley Investment Group and Christian of First Street, in association with ParaSell, Inc., represented the seller, a private investment firm based in the San Francisco Bay Area, in the sale of a new 3,200 square foot Taco Bell drive-thru building built in 2020 on 1.53 acres at 4132 Miller Street (US Highway 136).

The buyer was a family trust based in Central California and was represented by James Bitter of Fortune Associates of Fresno, California. The selling price, which could not be disclosed, represented the lowest cap rate for a fee simple Taco Bell in a Midwestern service market. The new build property with an absolute triple net lease negotiated at 99% of the list price, Lefko noted.

In West Des Moines, Iowa, Lefko and Asher of Hanley Investment Group, in association with Scott Reid & ParaSell, Inc., represented the seller, a Kansas City-based private investor, in the sale of an absolute triple-net to long term ground lease for a Taco Bell with drive-thru at 1570 22nd Street.

The 2,989 square foot Taco Bell building, built in 2012, sits on 0.87 acre land at the newly renovated Westowne Center, the mainstay of which is Michaels and Floor & Decor. The buyer, a private investor based in Jackson, Wyoming, was represented by David Borinstein of Colliers International in San Francisco. The sale price, which could not be disclosed, represented a record capping rate for a single-tenant Taco Bell with a relatively short-term lease in Iowa, and traded at 99% of the list price, according to Lefko.


Leave A Reply

Your email address will not be published.