New Del Taco retail building near Chattanooga sells
JLL Capital Markets closed the $1.7M sale of the single-tenant asset in Fort Oglethorpe, GA
ATLANTA, Sept. 23, 2021 – JLL Capital Markets announced today that it has closed the $1.7 million sale of a new, 2,500-square-foot, single-tenant retail building ground leased to Del Taco in the Chattanooga-area community of Fort Oglethorpe, Georgia.
Del Taco is a rapidly expanding national operator and franchisor of restaurants featuring Mexican-inspired foods and American classic dishes. Completed in 2020, the Fort Oglethorpe Del Taco is the most visited Del Taco location in the state of Georgia.
The Del Taco building is situated on .81 acres at 564 Battlefield Pkwy. in Fort Oglethorpe, which is at the border of Georgia and Tennessee and within the Chattanooga MSA, which is known as “Freight Ally” due to the region moving the highest freight volume in the U.S. The property is adjacent to the city’s busiest intersection and visible to about 50,600 vehicles per day. It is also positioned on the “going home” side of Battlefield Parkway and along a major retail corridor and surrounded by more than 100,000 residents within a five-mile radius.
The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Director Michael Brewster, Senior Managing Director Brad Peterson and Analyst Wyatt Andrews.
“Every net-lease transaction strikes a balance of yield versus tenant credit,” Brewster said. “The market created for this Del Taco signals the power of having a strong, hands-on local operator with transparency into financials.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.