Jun 17, 2022

Blue West Capital Arranges Record Sale of Single Tenant Burger King in Indianapolis MSA

WESTFIELD, IN – [June 17, 2022] – Blue West Capital has completed a cap rate record sale of a single tenant Burger King ground lease property located at 87 IN-32 in Westfield Indiana for $2,891,000. The property sold for a 4.15% cap rate which is the third lowest ever recorded in Indiana for a single tenant property, according to CoStar. Robert Edwards and Tom Ethington, of Blue West Capital, represented the 1031 exchange buyer, a Montana based real estate trust. The seller was a Colorado-based investor.

The 3,253 square foot Burger King property benefits from excellent access and visibility from State Road 32 and is located just south of the Grand Park Sports Campus. The Burger King ground lease features a guarantee from the largest Burger King franchisee in the United States and is on a long-term ground lease with no landlord responsibilities. The property is positioned in an affluent area with average annual household incomes of $106,000 within one mile.

“Single tenant net lease properties with high quality locations and no landlord responsibilities are at the forefront of demand amongst net lease and 1031 exchange investors. This sale was the fourth lowest cap rate nationally for a Burger King this year and is a good representation of Blue West Capital’s successful track record of delivering quality Midwest net lease real estate investments to our active buyers domiciled in the Western U.S.,” said Robert Edwards, Managing Partner.

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