Just Sold – Chick-Fil-A Richmond, VA

4920 W. Broad Street | Richmond, VA
SLN Capital Markets, a division of S.L. Nusbaum Realty Co., has brokered the sale of a Chick-fil-A in Richmond, VA. Chick-fil-A recently signed a new 15-year lease for its location at 4920 W. Broad Street, after agreeing to expand its site to 1.97 acres.   The popular store will increase its parking area and add additional drive-thru lanes.
“This store was bursting at the seams,” said Carter Wells, an Associate with SLN Capital Markets.  “They had only been here six years before realizing they needed more room to accommodate the traffic”.
SLN Capital Markets represented the seller, Colonial Heights Land Company, and sourced a private buyer from Arizona who bought the property to accommodate a reverse 1031 exchange.
“Chick-fil-A is still a best-in-class tenant,” said Doug Aronson, Senior Managing Director of SLN Capital Markets, “and while cap rates have been creeping up across all investment property classes, investors who want safety are still attracted to credit tenants with long-term leases in place”.
For further information about this transaction, please contact: Doug Aronson, daronson@slnusbaum.com, 757.282.6510 or Carter Wells, cwells@slnusbaum.com, 804.944.9258.
To learn more about SLN Capital Markets, visit: www.slncapitalmarkets.com.

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