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4/21/23
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A 22-property Arby’s portfolio located in Iowa, Montana, North Dakota, Nebraska, and Wisconsin traded hands for $35.126 mil. The transaction is part of a $52.6 mil disposition assignment with 28 properties closed and five currently under contract.
“The sale demonstrates market demand for fundamentally strong net-lease investments by portfolio buyers and individual investors,” said Drew Isaac, senior managing director investments in Marcus & Millichap’s Denver office. “The opportunity arose when a multi-generational Arby’s franchisee decided to exit the business. As part of that sale, all new leases were executed with rent set by historical sales and lease terms based on franchisee agreements. Subsequently, the real estate portion of the portfolio was placed on the market.”
Isaac and Marcus & Millichap’s Brian Bailey exclusively represented the seller. Marcus & Millichap’s broker of record in Iowa, North Dakota, Nebraska is Jon Ruzicka, and in Montana and Wisconsin, respectively, Adam Christofferson and Todd Lindblom.
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