SRS Real Estate Partners’ National Net Lease Group closed the $2.775 million ground lease acquisition of a single-tenant property occupied by Chick-fil-A at 2980 Golf Court in Delafield, Wisconsin.
SRS National Net Lease Group’s First Vice President Sheree Strome and Senior Associate Michael Berk represented the buyer, a private investor from Virginia who was in a 1031 exchange. The seller was a Georgia-based developer who was represented by Jon Thoresen with Founders 3 Real Estate. The closing cap rate was 3.96 percent.
The 5,012-square-foot Chick-fil-A restaurant is new construction and opened its doors in February 2020. The property is well-located off the new roundabout on Golf Road and features double-ordering lanes merging into a single payment lane. It is off the 94 freeway and is within a busy retail corridor.