BUFORD, GA. — The Taylor McMinn Retail Group of Marcus & Millichap has brokered the sale of a restaurant in Buford, a northeast suburb of Atlanta in Gwinnett County. Whataburger occupies the restaurant on a 15-year ground lease that features 10 percent rent increases in the initial term and extension options. The popular burger chain recently backfilled the restaurant vacated by an unnamed tenant.
Don McMinn and Andrew Koriwchak of Taylor McMinn Retail Group brokered the sale on behalf of the seller, a developer that is a repeat client for Whataburger. The out-of-state buyer purchased the restaurant in an all-cash 1031 exchange.
“Despite challenges with the higher price point, our team sourced an all-cash, out-of-state, 1031 buyer through our national reach and buyer relationships,” says McMinn. “This is our fifth Whataburger sale in Atlanta, and we have additional Atlanta product for sale.”