Franklin Street has arranged the $2.2 million ground lease sale of a newly-constructed, single-tenant Arby’s restaurant in Acworth, Ga., a northwest suburb of Atlanta. Located at the intersection of Highway 92 and Baker Road, the 2,400-square-foot Arby’s is situated on a 1-acre parcel of land. The quick-serve restaurant with a drive-thru recently signed a 20-year corporate-guaranteed lease.
John Tennant and Bryan Belk of Franklin Street’s Atlanta office represented the seller, Kenny Properties, LLC of Marietta, Ga., in the marketing of the restaurant. The buyer was WGS Holdings I, LLC of Charlotte, N.C., who plans to hold the property for long-term investment.
“This transaction confirms that private investors are still actively chasing high-quality single-tenant assets with stabilized returns such as this Arby’s,” said Tennant, senior director of retail investment sales at Franklin Street. “The site’s proximity to I-75 in the Atlanta metro area helped draw attention from prospective buyers nationwide. We received multiple full-price offers within the first two weeks of marketing the property.”
About Franklin Street: Founded in 2006 during one of the toughest real estate climates, Franklin Street focused on delivering value-added solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise and experience of each of its divisions – Investment Sales, Tenant and Landlord Representation, Capital Advisory, 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.