Louisville, KY – Dec 6, 2023 – Faris Lee Investments, a leading national real estate advisory firm, is pleased to announce the successful sale of a brand-new double-drive-thru 7 Brew in Louisville, KY. The ‘all-cash’ transaction closed at $1.7 million dollars, equivalent to a 6.18% cap rate. This coffee QSR property represents a rare investment opportunity for buyers seeking an Absolute Triple-Net (NNN) asset strategically positioned in front of a highly trafficked, grocery-anchored center.
Tyler Strauss and Hunter Steffien, Directors at Faris Lee Investments, represented the Seller in facilitating the transaction. Previously a Pizza Hut location, this brand new 7 Brew double drive-thru brings new life to the hard-corner parcel fronting Kroger, and is the first location opened in Jefferson County. Faris Lee Investments successfully completed the transaction with the purchaser around the same time as the store’s official grand opening in October 2023.
The strategic marketing approach employed by Faris Lee Investments was instrumental in the success of the transaction. Marketing efforts were deliberately directed toward 1031 exchange buyers and local investors with assets in proximity to the subject property. Demonstrating the strength of the trade area, the property’s proximity to best-in-class retailers, and incredibly affluent demographics were key factors to the success of this transaction. Additionally, Faris Lee Investments highlighted the brand’s success across the country. In 2022, 7 Brew achieved better Average Unit Sales Volumes ($2.36M) than its national competitors Dutch Bros ($1.9M) and Scooter’s ($876K).
The results achieved in this transaction are noteworthy. It is the only 7 Brew asset to transact in Kentucky during 2023 (per CoStar), and was one of thirty-four (34) 7 Brew assets available at the time of listing. The purchaser sourced is a Kentucky-based investor actively seeking to expand their NNN holdings in the prosperous Louisville KY Metropolitan Statistical Area (MSA).
About Faris Lee Investments:
Faris Lee Investments is a leading national retail investment 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