April 10, 2024 – Jarett Zackman, Michael Talbert, and Dan Bernardini of Horvath & Tremblay have successfully completed the sale of Dark Pollo Tropical in Boynton Beach, Florida. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $2,800,000.
Pollo Tropical is located at 8801 Boynton Beach Boulevard in Boynton Beach, Florida. Pollo Tropical has 9+ years remaining on their Absolute NNN Ground Lease with four (4), 5-year renewal options. The lease features attractive 10% rent increases every 5-years throughout the primary lease term and at the start of each renewal options, providing the investor with an attractive increase in revenue and a hedge against inflation. The location is Dark, and Pollo Tropical will continue to pay rent throughout their primary lease term. The property is strategically located along Boynton Beach Boulevard (SR 804), the area’s primary commercial and commuter corridor, and benefits from outstanding frontage and visibility. The Property is a pad site to the Cobblestone Commons, a newer construction grocery anchored shopping center, and is 1-mile from the Baptist Health Bethesda Hospital West and 1.25-miles from US Highway 441 and the Florida Turnpike. The area has seen explosive growth and development including Chipotle and Chick-fil-A, both positioned across the street. The area is home to countless national retailers that drive traffic to the area and densely populated residential neighborhoods that provide a built-in customer base.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.