IRVINE, Calif., – December 14, 2022 - Faris Lee Investments, a leading retail advisory, and investment sales firm, has completed the $1.50 million sale leaseback of a drive-thru Checker's in Montgomery, AL.
Faris Lee Investments represented the seller and the buyer in the transaction. The buyer from Tampa, FL, was in a 1031 exchange. This is the second transaction with this buyer. The first transaction was also a sale leaseback Checkers in Montgomery, AL.
Located at 1955 Coliseum Blvd, the property is adjacent to the Montgomery Zoo, Alabama National Guard Headquarters, and the Garrett Coliseum.
The listing team positioned the asset as a secure & stable investment with the new 20-year absolute triple net lease. They highlighted the strength of the tenant and the low rent. Faris Lee targeted 1031 exchange investors and closed at 100% of the list price with a 6.00% cap rate.
About Faris Lee Investments:
Faris Lee Investments is a retail brokerage advisory firm founded in 1996 and is based in Irvine, California. The firm specializes in commercial real estate investment sales, brokerage, and advisory services. In addition, the firm provides a national marketing platform of properties for sale, asset appraisal, property valuation, debt structuring, negotiation, market research, and analysis services. Faris Lee combines underwriting and research that exceeds industry standards with a marketing strategy to transform investment potential, enhance value and provide their clients the competitive advantage needed when making investment decisions. The firm also serves as institutional advisors in the areas of acquisitions and dispositions, merchant banking, distressed asset disposition, private equity, and corporate sale-leaseback. For more information, visit www.farislee.com