Northbrook, IL – January 4, 2017 – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Bob Evans property located at 105l El Jobean Road in Port Charlotte, Florida for $1,904,000.
The property is ideally situated with frontage and visibility on El Jobean Road which experiences a traffic count in of over 26,500 vehicles per day. Bob Evans also benefits from its position as an outparcel to Port Charlotte Town Center, a 765,000-square- foot regional mall anchored by Macy’s, Dillard’s, Sears and Regal Cinemas. The mall serves as the retail epicenter of Charlotte County and is surrounded by a myriad of major national retail tenants including Target, Walmart Supercenter, Sam’s Club, The Home Depot, Kohl’s, Lowe’s Home Improvement, Best Buy and Kmart, among many others.
The Bob Evans’ 20-year absolute NNN lease has over 19 years of primary lease term remaining with five 5-year renewal options and 1.5% annual rent escalations throughout the lease term. The restaurant offers breakfast all day and follows a country living theme rooted back to its origins as a single truck stop diner in 1946. Bob Evans Farms, Inc. is a publicly traded company on the NASDAQ (Symbol: BOBE) and operates over 520 corporately owned restaurants in 18 states across the country.