Commercial Real Estate, Capital, Insurance, Leasing & Management

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

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Bryan Belk and John Tennant arranged the sale of a Jim ‘N Nick’s Bar-B-Q restaurant in a suburb of Savannah.

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.

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