Broker of Record Blake Krabseth License No. 7074 Watne Realtors 408 N Broadway, Minot, ND 58073 (701) 852-1156
Brand new 20-Year Sale-leaseback – Tenant will execute a 20-year lease on COE
Absolute NNN Lease – ZERO Landlord Responsibilities – Ideal for 1031 exchange
Strategic Design – Built recently in 2017, this property benefits from a drive-thru, rare indoor seating, and iconic carhop drive-in spots for customers.
High Performing Store – Strong historical sales above the national average for franchisee operated Sonic locations (see broker for details)
Hedge Against Inflation – Lease contains 10% rental increases every five (5) years
Experienced franchisee – see broker for details
Close Proximity to Major University –Subject property is located only 1.50 miles away from University of North Dakota
Iconic Mall – Subject property sits outparceled to Grand Cities Mall, the first indoor shopping mall in North Dakota. The Mall offers a unique mix of retail shops, personal services, and entertainment that provide steady influx of traffic to the restaurant.
Excellent Visibility – Property sits on the exit corner of S Washington St and 19th Ave S which boasts approximately 25,480 VPD.
Strong Demographics – Located in the heart of Grand Forks, the property benefits from a population of approximately 66,766 people and an average household income of $63,868in a 5-mile radius
Sonic Corp, is the largest chain of drive-in restaurants in the United States with over 3,606 Sonic Drive-Ins in 45 states.
Recent acquisition by Inspire Brands, INC – In December 2018, Inspire Brands, Inc. announced the completion of its $2.3 billion acquisition of Sonic Corp.
Inspire Brands is now the fifth-largest restaurant company in the United States with more than 8,300 restaurants and generates annual systemwide sales in excess of $12 billion, now operating iconic Sonic, Arby’s, Buffalo Wild Wings, and Rusty Taco.