Delisle of Island Associates Real Estate Inc. negotiates $1.689m sale of Sonic Restaurant in Alabama

Tuscaloosa, AL Roger Delisle of Island Associates Real Estate Inc. negotiated and closed the purchase and sale of the property located at 3160 15^th St. for $1.689 million.

The site is ground leased to Sonic Restaurant and has been developed with a 1,312 s/f Sonic with a drive-thru on a 0.74 acre lot. The transaction was a sale leaseback with a 78-unit operator who has entered a new NNN ground lease with a base term of 20 years plus options. The seller was GS 15^th Street LLC, who operates 78 Sonic restaurants in the Southeast. The purchaser is a real estate owner and operator who owns properties throughout the east coast, and who purchased this property as a replacement property under a 1031 exchange. The purchaser was represented by Island Associates and the seller was represented by Marcus & Millichap.

Tags: Brokerage

Reprint

Previous Story Next Story

Hanna Commercial Real Estate brokers Agri-Plastics 64,000 s/f manufacturing facility lease at Uniland’s 2 Steelworkers Way

Lackawanna, NY Agri-Plastics, a global leader in the manufacturing of plastic products for agricultural, industrial, recreational, environmental, and home industries, has signed a 64,000 s/f lease to open a

Delisle and Monahan of Island Associates lease 45,000 s/f to Giunta’s Meat Farms at Strathmore Commons

Island Associates leases 45,000 s/f to Giunta’s Meat Farms

Delisle and Monahan of Island Associates broker 1,110 s/f lease extension for Kings Insurance

Island Associates brokers 1,110 s/f lease extension for Kings Insurance

Island Associates lease 1,050 s/f at Marion Oak Plaza

Berger and Koicim of Marcus & Millichap sell 17-unit multi-family for $8.8 million

Marcus & Millichap sells 17-unit multi-family for $8.8m

READ ON THE GO

DIGITAL EDITIONS

Browse Now

Quick Hits

Brokerage

SABRE coordinates sale of six properties totaling 199,845 s/f

Columns and Thought Leadership

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.