Property carrying long-term lease with largest Bojangles franchisee sells for $2 million.
ATLANTA, GA, April 02, 2021 /24-7PressRelease/ — Ackerman Retail, a division of Ackerman & Co., has brokered the sale of a 3,587-square-foot Bojangles restaurant in Murphy, N.C. for $2 million. The standalone restaurant has a long-term lease with BOJ of WNC LLC, the country’s largest Bojangles franchisee.
Sean Patrick and Wyatt Whitaker of Ackerman Retail represented the seller, Old North State Capital LLC. Maurizio Oronzo of Avanti Way Realty represented the buyer, BBE Consulting.
“We’re very pleased to complete the sale of this property on behalf of the seller,” said Sean Patrick, CCIM. “The acquisition of this high-quality asset built in 2014 enables the buyer to capitalize on a long-term lease with a highly successful Bojangles franchisee that runs through 2033, as well as steadily increasing sales and built-in rent escalations. During marketing, we navigated a sale of the business from a smaller franchisee to the largest franchisee operator, BOJ of WNC.”
Bojangles, which now has more than 750 restaurants system-wide, offers a menu of Southern & Cajun fried and grilled chicken items, made-from-scratch buttermilk biscuits and a variety of side dishes including Bo-Tato Rounds, Bojangles’ Dirty Rice and Bojangles’ Cajun Pintos.
Located at 1563 Andrews Road, a busy commercial corridor with direct access to U.S. Route 74, the Bojangles restaurant is surrounded by big-box stores, retail chains, restaurants and hotels. Murphy, N.C. is the county seat of Cherokee County and experiences a large influx of seasonal travelers visiting the Great Smoky Mountains. Major tourist draws include Harrah’s Cherokee Valley River Casino & Hotel, which is located 1.8 miles from the property, the Nantahala National Forest and the Hiawassee River.
About Ackerman & Co.
Headquartered in Atlanta, Ackerman & Co. is a privately held, full-service commercial real estate firm focused on providing quality investment, brokerage, management and development services in the Southeast. The company, founded in 1967, retains an expert team of more than 100 real estate professionals. To date, Ackerman & Co. has developed and acquired more than 37 million square feet of office, medical, industrial, retail and mixed-use space, has more than 4.5 million square feet under management and maintains an investment portfolio valued at $1 billion.
Ackerman Retail, a division of Ackerman & Co., offers a best-in-class services platform, delivering solid results for local and multi-market clients across the Southeast. To date, Ackerman Retail has completed more than 10 million square feet of transactions valued at $1.7 billion. For more information, visit www.ackermanco.com
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