(Northbrook, IL- May 19, 2017 – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net lease Arby’s Restaurant located at 3710 Easton Nazareth Highway in Easton, Pennsylvania for $1,700,000.
The 2,750 square foot Arby’s Restaurant is well located within the dominant retail destination along the areas primary east-west thoroughfare. The property is also less than one-quarter mile east of Pennsylvania Route 33 with direct on and off access. The Arby’s Restaurant is surrounded by a number of major retail developments. Northampton Crossings, a 622,000 square foot development anchored by a Walmart Supercenter, also features Sam’s Club, Sears, Kohl’s, Hobby Lobby and a Regal Cinema. Directly across the street is Lower Nazareth Commons, a 292,000 square foot development that features Target, Five Below, Petco and Starbucks. Other notable retailers in the immediate vicinity include Wegmans, PNC Bank, AT&T Wireless and a number of restaurants.
The Arby’s Restaurant recently executed a new ten year lease expiring in April 2027. The lease features 3% rental escalations in year five and nine of the primary term and in the four 5-year renewal option periods. Arby’s is a leading international quick-service restaurant company that specializes in deli-style sandwiches. Arby’s is the second-largest quick-service fast-food sandwich restaurant chain in the U.S. in terms of units and third-largest in terms of revenue.