Chris Schellin, President of Westwood Net Lease Advisors announces the sale of a brand new Chick-fil-a Ground Lease in the Houston suburb of Spring TX. Mr Schellin, represented the buyer, a private investor from Utah, in the transaction. The buyer was looking to add to his NNN portfolio and wanted a long term corporate ground lease in a major metro location. After Westwood’s diligent efforts, Mr Schellin was able to locate the subject property on a pre-construction sale. The property was contracted 3 months before construction completed which gave both buyer and seller the ability to lock in at current cap rates/interest rates. The property closed 10 days after rent commencement.
Chick-fil-a Ground Lease Closing
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