The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant ground leased Sonic Drive-In property located at 900 West John Carpenter Freeway in Irving, Texas for $1,810,000.
The 2,450 square-foot building benefits from its position along West John Carpenter Freeway which experiences 131,467 vehicles per day and leads directly to Downtown Dallas. The subject is strategically placed near a number of offices that supply the area’s daytime population. The asset is surrounded by an affluent population that earns an average household income of $122,210 within 3 miles. The total population size within a 5-mile radius is 241,509 people. Sonic is also a neighbor to a wide variety of retailers including, Chase, Walgreens, Chick-Fil-A, Starbucks, Bank of America, and 7-Eleven.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The Seller was a Florida based real estate fund and the buyer was a west coast individual in a 1031 exchange.
Sonic Corporation operates and finances the largest chain of drive-in restaurants in the United States. The first Sonic Drive-In restaurant was opened in 1953, and as of July 2023, there are approximately 3,545 Sonic’s nationwide. In 2018, Sonic was acquired by Inspire Brands (owners of Arby’s and Buffalo Wild Wings) for $2.3 Billion.
“This location is surrounded by a number of corporate offices that drive lunch-time sales.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Net lease buyers are in demand for low rent assets in tax free states.”
Media Contact
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email:Send Email
Phone: 8478816388
Address:3520 Lake Avenue Suite 203
City: Wilmette
State: Illinois
Country: United States
Website: https://www.bouldergroup.com/NNN-Properties-For-Sale.html
