SRS Real Estate Partners Capital Markets is pleased to announce the sale of two quick service restaurants (QSRs) with a total value of $7.53 million in White Hills, AZ (Boulder City area). The newly constructed, adjacent properties include Carl’s Jr. and Del Taco which both have 20-year, absolute triple-net leases in place.
SRS Capital Markets Managing Principals Matthew Mousavi and Patrick Luther and Vice President Winston Guest represented the seller, a multi-unit franchisee. The properties were acquired by individual out of state 1031 buyers.
The properties are located directly off U.S. Highway 93, a major roadway that connects Las Vegas to Phoenix. They are adjacent to TA Express Truck Stop, and a Conoco gas station and are limited on competition for quick service restaurants in the immediate area.
“Despite the remote location of the two properties, buyers were attracted to the yield offered by the investments backed by the proven track record and guaranty of the operator,” said Guest.
Following is information on each property:
- Carl’s Jr. sold for $3.85 million and is located at 19360 U.S. Highway 93. It was built in 2022 and totals 2,586 square feet (sf).
- Del Taco sold for $3.68 million and is located at 19312 U.S. Highway 93. It was built in 2023 and totals 2,304 sf.
In 2023, SRS Capital Markets completed approximately $2 billion in deal volume comprised of 495 transactions in 43 states. SRS currently has in excess of 600 properties actively on the market with a market value surpassing $2.85 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 28 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.