Warwick, RI Bob Horvath, Todd Tremblay, Matt Nadler, Kyle Danielson, and Jack Laurendeau of Horvath & Tremblay have completed the sale of a Raising Cane’s. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $3.7 million which represents a 5% cap rate.
The new construction Raising Cane’s is located at 336 Bald Hill Rd. and consists of a 3,286 s/f building with a drive thru. Raising Cane’s has 14+ years remaining on their absolute NNN ground lease with 5, five-year renewal options. The lease calls for 10% increases every five years throughout the primary lease term and at the start of each renewal option. The new construction Raising Cane’s is located at the signalized…..