West Coast Private Investor Acquires Cheddar's Scratch Kitchen Ground Lease In Donna For $3.64M

The transaction involved a retail asset located at 1510 E IH 2 in Donna, Texas. The property was sold for $3,636,000. It is a single-tenant net leased Cheddar’s Scratch Kitchen ground lease that features a new construction. The lease has a term of 10 years with absolute NNN terms, which includes 10% rent escalations every five years along with four renewal options backed by Darden Restaurants.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $3,636,000
• Address: 1510 E IH 2
• Market: Donna
• Lease Type: Absolute NNN ground lease
• Rent Escalations: 10% every five years
• Renewal Options: Four
• Buyer: A West Coast private investor
• Seller: A Texas-based real estate company
• Brokers: Randy Blankstein, Jimmy Goodman & John Feeney - The Boulder Group

The Boulder Group facilitated the sale, representing the buyer in the transaction. This deal highlights their active involvement in the real estate market, specifically dealing with net lease properties. Randy Blankstein, Jimmy Goodman, and John Feeney are the key brokers from The Boulder Group who contributed their expertise to the successful closing of this sale.