Properties

Bojangles' (Greenville MSA)

3701 Blue Ridge Blvd
Walhalla, SC 29691

PROPERTY SOLD

Property: Investment Sales

Square Footage: +/- 3,808

Acreage: +/- 2.11

Price: $2,303,000

Cap Rate: 5.75%

Description:

• Rapidly growing regional fast-casual restaurant brand founded in 1977 in Charlotte NC with over 680 locations in 12 Southeast and mid-Atlantic states
• Publicly traded company (Nasdaq: BOJA) with 24 consecutive quarters of system-wide comparable store sales growth
• 16 year absolute NNN lease commences November 2016 with 7% rent bumps every 5 years beginning in year 7 and 3 renewal options
• Lease guaranteed and store operated by one of the largest (50+ units) and most successful franchisees in the chain and only one to operate in 5 states (www.bofanatics.com)
• Located in the NW corner of the state near the I-85 corridor and part of the Greenville-Spartanburg-Anderson CSA with a population in excess of 1.45 million
• 45 miles west of downtown Greenville and 15 miles from Clemson University with about 23,000 students
• Neighboring tenants include Ingles, Sav-A-Lot, Burkes, CVS, Ace Hardware, Dollar General, Family Dollar, Advance Auto Parts and several restaurants, banks and c-stores/fuel stations