Chicago, IL (January 11, 2024) – Quantum Real Estate Advisors, Inc. has brokered the sale of a brand-new Whataburger ground lease in Millington, TN. The asset, which is currently under construction, sold for $2,300,000 to a local investor based out of TN. The seller, a Southeast-based developer, was represented by Zack Hilgendorf, Executive Vice President of Quantum Real Estate Advisors, Inc., and Nick Hilgendorf, Associate of Quantum Real Estate Advisors, Inc. The buyer was unrepresented in this transaction.
Zack Hilgendorf had the following comments regarding the transaction, “We were able to procure multiple offers for our client, who was glad to exit this project at an aggressive cap rate.” Nick Hilgendorf added, “The buyer acquired a great hard corner, tenanted by one of the fastest-growing QSR operators in the south. He could have achieved higher short-term yield through an alternate investment, but he preferred purchasing a great piece of dirt in a growing market, instead.”
Quantum Real Estate Advisors, Inc. (www.QREAdvisors.com) specializes in investment sales brokerage, assisting clients in the acquisition and disposition of commercial real estate. Quantum has the capacity through strategic alliances to offer full-service leasing brokerage, receivership, management, and financing.