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Franklin Street Closes $4.25M Single-Tenant Sale of Jim 'N Nick's Restaurant

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Published: Jan 09, 2019
Franklin Street has arranged the sale of a single-tenant, triple net-leased Jim ‘N Nick’s Community Bar-B-Q restaurant in Pooler, Ga., a suburb of Savannah. The Jim ‘N Nick’s is a newly developed 7,075-square-foot freestanding building situated at 147 Trader’s Way.   John Tennant and Bryan Belk of Franklin Street’s Atlanta office represented the seller, Lawrenceville, Ga.-based Pooler BBQ Partners, LLC, in the transaction. The buyer was Spizzirri, Inc. of Pasadena, Calif. The transaction totaled $4.25 million or $600.71 per square foot.

“Jim ‘N Nicks is a fast-growing restaurant chain in the Southeast with large expansion goals in future years,” said Belk, senior director of retail investment sales at Franklin Street. “Retail investors still have a robust appetite for these type of single-tenant, triple net deals with solid real estate fundamentals.”

The Jim ‘N Nick’s property is located on the Pooler Parkway and is surrounded by national tenants including Dick’s Sporting Goods, Walmart, Home Depot, Michael’s, PetSmart, and Publix.  Pooler is a fast-growing suburb of Savannah, that is home to the Savannah/Hilton Head International Airport and the Tanger Outlets Savannah.

For more information on Franklin Street, visit FranklinSt.com.

About Franklin Street: Celebrating more than 10 years in the business, Franklin Street is a family of full-service commercial real estate companies focused on delivering value-add solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise and experience of each of its divisions – Real Estate, Capital, Insurance, Property Management and Project Management– Franklin Street offers unmatched value and optimal solutions for clients nationwide. Learn more about Franklin Street at FranklinSt.com.
Credit:
Source: Retail Dive
URL: https://www.retaildive.com/