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9/16/22
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A Dallas-based private investor purchased the ground-lease of a single-tenant retail property occupied by Salad and Go, a gourmet salad drive-thru restaurant chain, in Mesquite, TX. Located at 1950 N. Town East Blvd, the 800 sf property is situated on approximately 1.1 acres.
Built in 2022, the newly constructed property has a 20-year, corporate guaranteed ground lease in place. It is situated on a busy retail corridor and is near a direct on/off ramp to Interstate 635 and there are more than 326,000 residents and 94,000 employees within a five-mile radius.
Sabrina Kortlandt, Kyle Fant and Britt Raymond with SRS Real Estate Partners’ National Net Lease Group represented the seller, WIRE Properties, a Dallas-based local developer. The buyer was repped by Alan Fruitman of 1031tax.com.
“Our team secured an all-cash buyer who paid very close to asking price in a post interest rate hike environment.” said Kortlandt. “The asset featured an oversized parcel, double drive-thru, and is located in a strong North Dallas submarket.”
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