Louisville, KY — Faris Lee Investments announced the successful sale of a free-standing, drive thru Chipotle in Louisville, Kentucky, for $3,700,000 further reinforcing the firm's leadership in STNL Investment properties within the Southeast United States.
The transaction was led by Scott DeYoung, Senior Managing Director, Jeff Conover, Managing Principal, and Greg Lukosky, Director, of Faris Lee Investments.
The investment property consisted of a 2,325-square-foot free-standing, drive thru restaurant building with a 17-year lease with Chipotle. The brand new 2025 construction included an absolute NNN lease that provided the investor with a secure, management free income producing property within a dynamic trade area that included major retailers such as Walmart, Lowe’s Home Improvement, Kroger, Kohls, and Menards. The property is adjacent to a high-volume operators Chick fil-A and 7 Brew Coffee along Preston Highway with over 55,000 vehicles per day.
Faris Lee Investments represented the seller, a Southeast based developer with the buyer being a California based investor completing a 1031 exchange.
"The investment opportunity received extensive buyer interest due to the long term, absolute NNN lease, along with the location within a growing Louisville trade area with excellent retail traffic generators in the immediate vicinity" said Scott DeYoung, Senior Managing Director at Faris Lee Investments. "We utilized our national, proprietary retail investor database to penetrate potential buyers throughout the United States. Due to our aggressive marketing program, our team was able to procure multiple offers and utilized this activity to procure a 1031 buyer with a 7-day due diligence and closed within 21-days from opening of escrow."
This acquisition confirms the strong desire from investors to acquire single tenant, absolute NNN leases with quality tenants on newly constructed long-term leases in growing trade areas with cooperative governmental support for commercial development. Even though the debt market is difficult to navigate, there continues to be an active 1031 Exchange investor base that is driving the retail property investment market.
About Faris Lee Investments
Faris Lee is a leading national retail investment brokerage firm with 30 years of experience in maximizing value for retail property owners. Guided by core principles of integrity, high level of real estate knowledge , and accountability, the firm is dedicated to delivering exceptional results while maintaining a strong commitment to ethical practices, collaboration, and in-depth real estate knowledge. Faris Lee’s process begins with a deep understanding of each property, followed by the application of market analytics using real-time financial, real estate, and retail data to inform strategic decisions.
By combining cutting-edge research, precise marketing strategies, and a collaborative team approach, Faris Lee maximizes sale proceeds, ensuring clients achieve exceptional results well above the competition. Their team of seasoned professionals brings extensive real estate expertise and a client-focused mindset, ensuring long-term success through creative solutions and unwavering focus for the client.
For additional information regarding this transaction or other retail investment opportunities, please contact the Faris Lee Investments team.