IRVINE, Calif., June 13, 2022 - Faris Lee Investments arranged the sale of a Seven Brew Coffee in Greenville, SC, and achieved a record-breaking cap rate, 5.25%, which is the lowest cap rate ever for the concept nationwide. The sale is indicative of not only the strength of the tenant but the overall single-tenant market today.
The offering was for a single-tenant, double drive-thru, Seven Brew Coffee, which featured a brand new, 10-year, lease with 10% rent increases every 5 years, including at each option to extend. Seven Brew Coffee is quickly becoming a nationally recognized brand with its continued growth.
Faris Lee Investments procured numerous offers, and ultimately closed at 100% of the list price. The Seller is a developer based out of Atlanta and the Buyer is based in California.
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.