Northbrook, IL- October 11, 2016 – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Perkins Restaurant & Bakery located at 3005 Highway 10 East in Moorhead, Minnesota for $2,100,000.
Perkins Restaurant & Bakery is located in Moorhead, Minnesota, which is part of the Fargo-Moorhead metropolitan area. Perkins has occupied this site since the structure was built in 1994 and updated in 2004. Perkins is scheduled for a full remodel in 2018. The property is strategically located along Highway 10 East which is a primary thoroughfare in the area and features traffic volumes in excess of 20,000 vehicles per day. The surrounding area features many national retailers including: McDonalds, Tractor Supply Company, K-Mart, and Target.
There are five years remaining on the original 15 year lease with two 5-year renewal options. Perkins Restaurant & Bakery operates 410 restaurants in 33 states and five Canadian provinces.