October 9, 2015: Noble Properties is pleased to announce that we have recently closed on a Hooter’s Restaurant located in Atlanta, Georgia. Highlights of the transaction include the following:
1. Outparcel to a 500,000 sf power center anchored by Target,
Home Depot, and Gander Mountain
2. Located in an exceptional retail hub off I-75 in Atlanta MSA
3. Hooters to be renovated in 2016
4. Hooters of America is an iconic brand with over 430 locations worldwide
Noble Properties is a no-nonsense buyer with an exceptional track record as a deal closer. We do not waste the seller or broker’s time.
Noble Properties is a privately held real estate management and investment firm based in Palm Beach Gardens, Florida. We own, manage, and lease 3,000,000 square feet of retail and medical office space in 22 states. This includes a large portfolio of single tenant properties leased to such brand-name tenants as Walgreens, McDonald’s, Jiffy Lube, Pep Boys, Golden Corral, Advance Auto, Total Wine & More, Hooters, Olive Garden, Verizon, Applebee’s, La Z Boy, Tire Kingdom, Wells Fargo, and TD Bank. Noble continues to seek single-tenant deals with both investment and non-investment grade credit. We have closed on nearly $200 million worth of single tenant deals since 2010. We are seeking to purchase $100 million worth of single tenant deals in 2015.
Our focus is on properties with remaining lease terms of 15 years or longer in major metro areas throughout the United States. Deal size preference is $2 to $10 million. We will consider larger and smaller deals and those with shorter lease terms on a case by case basis, factoring in location, tenant/brand, and store sales. For non-investment grade deals, we prefer seasoned properties with strong sales and superior locations. In cases where there are no tenant sales, we focus on the strength of the location and the market rent. Noble has also completed numerous sale leaseback transactions.
There are few buyers that have the ability to react and make decisions quickly, while closing on an all-cash basis. Noble can!