IRVINE, Calif., October 10, 2017 – Faris Lee Investments, a leading retail advisory and investment sales firm, has completed the $3.35 million sale of a recently developed 3,818-square-foot single-tenant retail property occupied by Slim Chickens, an expanding fast-casual restaurant chain. The property is located in the City of Helotes, a suburb of San Antonio, TX.
Matt Brooks, Tom Chichester, and Joseph Chichester with Faris Lee Investments represented the buyer, Arkansas-based Frost Commercial, LLC. The seller, Dallas-based CSDRE, LLC, was represented by SRS. The asset closed at a 6.72 percent cap rate.
“We identified this property for our out-of-state buyer client as he was seeking a solid trade area with a high yield with a strong tenant that is 140-unit operator across multiple concepts,” said Matt Brooks. “With approximately 62 restaurants currently open, Slim Chickens is a growing brand with a solid reputation.”
The newly built freestanding building is situated on one-acre of land and is located at 12530 Bandera Road. The property well positioned in a densely populated, affluent area. It is also within a major retail corridor featuring a number of national brands including Target, Lowe’s, T.J. Maxx, among others and is directly across from a Walmart-anchored shopping center.
About Faris Lee Investments: Faris Lee Investments is a leading retail advisory and investment sales firm. The company’s high-level retail investment advisors and sophisticated financing experts develop forward-thinking strategies for all retail acquisitions and dispositions and guide clients through complex transactions. Cumulatively, Faris Lee’s leadership has been involved in more than $20 billion of transactions. Faris Lee’s senior advisors are skilled in disposition and acquisition strategies, asset positioning and valuation, marketing, debt and equity structuring, strategic workout and REO solutions and execution. For more information, visit www.farislee.com.