SRS Real Estate Partners recently finalized the sale of a newly developed Raising Cane’s Chicken Fingers drive-thru restaurant in Quincy, Illinois for $2.6 million. The property, located at 3601 Broadway Street and spanning just under one acre of land, was sold through a ground lease arrangement.
Managing Principals Matthew Mousavi and Patrick Luther from SRS Capital Markets represented the seller – a merchant developer based in Chicago – while Vice President Alexander Moore represented the buyer: a private investor from Sacramento.
According to Moore, Raising Cane’s is an increasingly popular brand with significant growth potential nationwide. The ground lease opportunity was particularly attractive to the buyer due to its lack of landlord responsibilities and scheduled rental increases over its 15-year term.
The property is situated as an outparcel to Target and directly across from Quincy Commons Shopping Center – home to other national brands such as Hobby Lobby, Hy-Vee, Panera Bread,and Taco Bell.
