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Palomar Group Brokers $2.8M Sale of Augusta Restaurant Leased to Steak N Shake

Steak N Shake has approximately 15 years remaining on its lease term at this restaurant in Augusta, Ga.

AUGUSTA, GA. — The Palomar Group has brokered the $2.8 million sale of a 3,512-square-foot restaurant located at 4329 Belair Frontage Road in Augusta. The property is triple-net-leased to Steak N Shake, a diner chain that serves burgers, fries and milkshakes. Steak N Shake has approximately 15 years remaining on its lease term, which features a 10 percent rental increase every five years. The restaurant is situated at a signalized intersection off I-20 and near Fort Gordon Army Base. An investment firm based in New Britain, Conn., purchased the restaurant from an entity based in Aiken, S.C. Both parties requested anonymity.

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‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
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‣ NAI Global
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‣ Walker & Dunlop

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