Hanley Investment Group Real Estate Advisors arranged the purchase of two newly constructed, freestanding single-tenant properties occupied by a Taco Bell Drive-Thru and an Aroma Joe’s Drive-Thru in Manchester, NH. The sale price was $1.81 million for the two absolute triple-net ground leases in an off-market transaction.

EVPs Jeff Lefko and Bill Asher, in association with ParaSell, Inc., represented the Florida-based private buyer. The seller was a private investor based in Burlington, Massachusetts.

“We exclusively represented an all-cash private buyer from Florida (who was not in a 1031 exchange) and sourced a property with two new construction single-tenant drive-thrus through an existing client relationship,” said Lefko. “The buyer was drawn to the property’s prime retail location, proximity to schools and colleges, strong demographics, and the tenants’ long-term leases with increases.”

Built in 2023, totaling 3,450 square feet, Taco Bell Drive-Thru is located at 525 Hooksett Rd. and Aroma Joe’s is at 527 Hooksett Rd. in Manchester.

Hanley Investment Group Real Estate Advisors arranged the sale of a new-construction, single-tenant property occupied by a Raising Cane’s Chicken Fingers Drive-Thru restaurant in Imperial Beach, . The sale price in this off-market transaction was $5.7 million. 

EVPs Bill Asher and Jeff Lefko represented the developer and seller, Palm Avenue 111 Partners, LLC of Encinitas. The buyer, a family trust based in Northern California, was represented by Scott Ketchum in Newport Beach.

“We procured an all-cash California-based 1031 exchange buyer specifically seeking an absolute triple-net quick serve drive-thru investment in California,” said Asher. “We secured the buyer within their 1031 exchange identification period, opened escrow shortly after Raising Cane’s opened for business and closed the transaction in 40 days.”