The Boulder Group has completed the sale of a single tenant Freddy’s Frozen Custard & Steakburgers sale leaseback property located at 301 Doug Baker Blvd, Birmingham, AL for $1,833,333. Zach Wright and Brandon Wright represent the seller and purchaser in the transaction. The seller was a Freddy’s franchisee and the purchaser was a Midwest-based 1031 exchange investor.
The Freddy’s Frozen Custard & Steakburgers is positioned within a regional retail destination that includes a Publix, Dick’s Sporting Goods, Golf Galaxy, Hobby Lobby, AMC, and Panera. The property is located just off Highway 280 (56,000+ VPD) and in an extremely affluent area with average annual household income exceeding $173,000 within three miles.
The Freddy’s Frozen Custard & Steakburgers property features a new 20-year absolute triple net lease with zero landlord responsibilities and 2% annual rental increases. Freddy’s has approximately 550 locations across 36 states and is one of the fasted growing chains in the United States.
This was the 5th Freddy’s Frozen Custard & Steakburgers property sold by Zach Wright and Brandon Wright within the past thirteen months. The two previously sold the four lowest cap rates ever recorded nationally for Freddy’s properties according to CoStar.
“Freddy’s properties offer excellent real estate investment opportunities in addition to their made-to-order steakburgers and frozen custard. Most of their restaurants are well-located in dynamic retail trade areas and feature long-term triple net leases backed by strong franchisees. We continue to see substantial investor interest in Freddy’s properties,” stated Zach Wright, Vice President.
“Low rent and low price point quick service restaurant properties continue to be highly sought after amongst net lease investors,” added Brandon Wright, Associate.
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high-net-worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $9 billion of single tenant net lease real estate transactions. From 2013-2024, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago and has an office in Denver.
Media Contact
Company Name: The Boulder Group
Contact Person: Zach Wright
Email: Send Email
Phone: 720-604-2220
Address:1805 S Bellaire Street, Suite 355 Suite 203
City: Denver
State: Colorado
Country: United States
Website: https://www.bouldergroup.com/NNN-Properties-For-Sale.html
