Arkansas-based Frost Commercial LLC paid $3.35 mil for a recently developed, 3.8k sf ($882/sf) single-tenant retail property in the city of Helotes, a suburb of San Antonio, TX. The property is occupied by Slim Chickens, an expanding fast-casual restaurant chain.
The newly built freestanding building is situated on one-acre of land and is located at 12530 Bandera Rd. 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.
Matt Brooks, Tom Chichester and Joseph Chichester with Faris Lee Investments represented the buyer in the deal. The seller, Dallas-based CSDRE LLC, was repped 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 a 140-unit operator across multiple concepts,” said Brooks. “With approximately 62 restaurants currently open, Slim Chickens is a growing brand with a solid reputation.”