Arkansas-based Frost Commercial has paid $3.35 million, or about $877 per square foot, for a recently completed retail building in suburban San Antonio fully leased to Slim Chickens, an up-and-coming fast-casual restaurant chain headquartered in Fayetteville, AR.
The 3,818-square-foot freestanding restaurant is located on a one-acre site at 12530 Banera Ave. within a densely populated area in Helotes, a city located roughly 22 miles northwest of San Antonio. Situated within a major retail corridor, Slim Chickens sits directly across from a Walmart-anchored shopping center near a number of brand-name tenants including Target, Lowe's and T.J. Maxx.
Matt Brooks, Tom Chichester and Joseph Chichester of Faris Lee Investments handled negotiations on behalf of Frost Commercial, while representatives with SRS negotiated on behalf of the seller, a Dallas-based investor. The property sold at a 6.72% cap rate.
For more information on the transaction, please see CoStar Comp #4019629.