IRVINE, Calif., December 9, 2022 - Faris Lee Investments, a leading retail advisory, and investment sales firm announced the single-tenant absolute triple net ground lease sale of a Seven Brew in the college town of Springfield, MO.
Matt Brooks, Managing Director at Faris Lee Investment represented the seller, a developer based in Atlanta, Georgia and sourced a buyer from Idaho.
Built in 2021, the property is located at 2317 N. Glenstone Avenue, a high-trafficked retail location adjacent to the Springfield Inn Hotel and facing BigShots Golf. It features a double drive-thru with high sale volume. The tenant had a new 10 years absolute triple net ground lease and rental increases providing investors with a growing cash flow and a hedge against inflation.
Faris Lee's marketing strategy focused on the newly constructed building. It highlighted the low market rent and long term lease with a strong franchisee. Seven Brew is one of the fastest growing coffee QSR in the nation.
Faris Lee targeted private investors resulting in several offers throughout the marketing period. The transaction closed at a 6.02% cap with an investor from Idaho.
About Faris Lee Investments: Faris Lee Investments is a national leading retail advisory and investment sales firm. The company’s high-level retail investment advisors develop forward-thinking strategies for all retail acquisitions and dispositions and guide clients through complex transactions. Through its recent strategic affiliation with X-Team Retail Advisors, a nationwide partnership of seasoned retail leasing experts, Faris Lee offers a fully integrated platform with disciplined expertise in landlord leasing, tenant representation, and investment sales to maximize value for clients.