Newport Beach, Calif. (January 4, 2023) – SRS Real Estate Partners’ National Net Lease Group (NNLG) is pleased to announce that in 2022, the firm sold a total of 22 properties occupied by Chick-fil-A valued at $87 million with an average cap rate of 3.77%. This makes up for a 32% market share for all Chick-fil-A-occupied assets sold last year, giving the firm the largest market share among all other brokerage firms.
Additionally, SRS has $46 million of Chick-fil-A properties for sale or currently in escrow, positioning 2023 as another strong year for the firm for sales of the country’s most successful chicken sandwich quick service restaurant chain.
“SRS has a national network of experienced single-tenant net lease brokers that have been executing deals with all categories of property,” said Patrick Luther, a Managing Principal with SRS’ NNLG. “We are particularly pleased that we have grown our market share and subsequently our reputation for Chick-fil-A assets as we have built up a significant buyer pool that understands the value of these high-performing properties on a national basis. These well-located, pride of ownership properties are corporate-guaranteed and typically are on long-term leases. Overall, they represent a generational, cash-flowing investment with very minimal landlord responsibilities.”
SRS currently has Chick-fil-A assets in Louisiana, Texas, Mississippi and Georgia in escrow, and has locations in New York, California, Arizona, Texas, Georgia and New Jersey on the market.
In 2022, SRS’ Investment Properties Group (IPG) and National Net Lease Group (NNLG) completed more than $2.8 billion in deal volume comprised of 705 transactions in 49 states. SRS and currently has more than $2.5 billion in property on the market valued in excess of $2.6 billion.
About SRS Real Estate Partners
Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with more than 25 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.
SRS’ Investment Properties Group (IPG) & National Net Lease Group (NNLG) is a unified platform of seasoned net lease professionals located and transacting nationally with all underwriting and marketing efforts strategically located in Southern California. In 2022, the group completed more than 705 sales across 49 states and has over 160 brokerage professionals nationally. From proactive sales to targeted acquisitions and tailored debt and equity solutions, SRS’ National Net Lease Group offers comprehensive services to net lease owners and investors. Superior speed-to-market, world-class marketing materials, a deep investor database and unparalleled retail submarket intelligence from the entire SRS platform allow SRS’ National Net Lease Group to deliver the best possible returns. For more information, please visit srsnnlg.com.