California + Orange County + Retail | January 11, 2023

SRS NNLG Finishes 2022 Closing $87M in Chick-fil-A Properties

Newport Beach, CA-based SRS Real Estate Partners’ National Net Lease Group (NNLG) has announced that the firm sold a total of 22 properties occupied by Chick-fil-A in 2022, valued at $87 million with an average cap rate of 3.77%. The 32% market share of all Chick-fil-A assets sold led all brokerage firms across the country.

“SRS is pleased that we have grown our market share and subsequently our reputation for Chick-fil-A assets, as we have built up a significant buyer pool that understands the value of these high performing properties on a national basis,” said SRS NNLG Managing Principal Patrick Luther. “The properties represent a generational, cash-flowing investment with very minimal landlord responsibilities.”

SRS currently has $46 million of Chick-fil-A properties currently in escrow, including locations in Louisiana, Texas, Mississippi and Georgia, and the firm also has locations in New York, California, Arizona, Texas, Georgia and New Jersey on the market.

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SRS National Net Lease GroupPatrick Luther

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.