SRS Real Estate Partners Capital Markets, located in Newport Beach, has announced that they have successfully sold 10 properties occupied by Chick-fil-A within the last year. These transactions totaled $48 million and had an average cap rate of 4.2%. This achievement has given SRS a significant market share of 30% for all Chick-fil-A-occupied assets sold nationwide during this time period.
According to Patrick Luther, managing principal at SRS Capital Markets, their team’s extensive network and expertise in single-tenant net lease brokerage have allowed them to connect with a diverse pool of buyers interested in acquiring stable and cash-flowing real estate investments such as those leased by Chick-fil-A. He also highlighted the appeal of these properties as they offer triple net buyers the opportunity to own top-notch assets with strong credit ratings and consistently high store sales compared to other drive-thru fast-food brands.
Currently, SRS has 15 Chick-fil-A properties on the market worth $85.5 million, including two that are already under contract. This represents another significant milestone for SRS as it accounts for a substantial portion (30%) of all available Chick-fil-A stores up for sale.
This accomplishment further solidifies SRS’ position as one of the leading players in commercial real estate investment sales across various sectors without explicitly mentioning “Connect” or “Connect CRE” or “Connect LA”.
