SRS Real Estate Partners announced today it has completed the sale-leaseback of a Taco Bell property located at 3459 Taylor Boulevard in Louisville, KY. Situated on .72 acres, the 3,250-square-foot, newly redeveloped property was completed in 2025 and is well-located near Churchill Downs.
SRS Capital Markets Vice Presidents Sarah Shanks and Morgan Zant represented the seller, Southpaw, a Connecticut-based Taco Bell franchisee. The buyer was a California-based private investor.
The site was formerly a quick service restaurant (QSR) that had been vacant. In March 2025, Shanks and Zant sold the property to Southpaw who redeveloped the site for its use.
“It was fulfilling to get this dark asset off the books for a client, then watch it be redeveloped into the beautiful Taco Bell it is today, ready to serve its customers including horse racing fans at Churchill Downs. Completing the sale-leaseback for Southpaw most certainly was a full circle moment,” said Shanks.
“Southpaw signed a new 20-year absolute triple net lease with the new ownership,” said Zant. “The buyer can enjoy a management-free investment that is ideal for passive investors seeking reliable income.”
The property is situated within a heavily trafficked retail corridor and is just .7 miles from Churchill Downs, home to the world-renowned Kentucky Derby which attracts both local and tourist foot traffic year-round. There are more than 245,000 residents and 219,000 employees within a five-mile radius of the property, creating a strong customer base for the new QSR.
“Sarah and Morgan have been amazing to work with on this project. Whether it was their tireless effort during the challenging purchase of the property or their ability to assist me through the sale of the site during the holidays, they’ve been instrumental in our transformation of this blighted asset into a cash-flowing investment,” said Dan Pellissier, Vice President of Real Estate, Southpaw.
The SRS team closed a total of nine Taco Bell properties to individual buyers totaling $18.66 million in Louisville and the Midwest in December 2025.
Last year, SRS Capital Markets completed more than $3.5 billion in deal volume comprised of 950 transactions across the nation. SRS currently has in excess of 845 properties actively on the market with a market value surpassing $3.7 billion.
About SRS Real Estate Partners
Founded in 1986, SRS Real Estate Partners is celebrating 40 years of going the extra mile for its clients. Building on its retail foundation, SRS provides commercial real estate solutions across retail, industrial, and capital markets. Headquartered in Dallas with 30 offices nationwide, the firm measures its success by the achievement of its clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.