GRAPEVINE, Texas and FORT WORTH, Texas — Hanley Investment Group Real Estate Advisors, a national real estate brokerage and advisory firm specializing in retail property sales, announced today the sale of three newly constructed single-tenant drive-thru properties in the Dallas-Fort Worth metro area. All three properties were developed and sold by Tradecor, a private developer with offices in Dallas, Phoenix and Tampa.
Hanley Investment Group's Executive Vice Presidents Bill Asher and Jeff Lefko, in association with ParaSell Inc., represented the seller in the sale of a Son of a Butcher Drive-Thru and an adjacent Portillo's Drive-Thru in Grapevine, Texas. Vice President Garrett Wood of Hanley Investment Group represented the buyer in the off-market acquisition of a Son of a Butcher Drive-Thru in Fort Worth, Texas.
Son of a Butcher Drive-Thru in Grapevine, Texas
Located at 480 W. State Highway 114, the 2,389-square-foot fast-casual restaurant features a new 15-year absolute triple-net ground lease. The property is part of a newly developed retail development that includes Portillo's Drive-Thru, Firebirds Wood Fired Grill, Rock & Brews and Velvet Taco.
"We procured a Minnesota-based 1031 exchange buyer to help fulfill a larger multi-property exchange requirement and negotiated a quick transaction timeline, closing 30 days after opening escrow," Asher said.
Portillo's Drive-Thru in Grapevine, Texas
Located directly adjacent at 460 W. State Highway 114, the 6,250-square-foot restaurant features a new 10.5-year absolute triple-net ground lease. Both the Portillo's and Son of a Butcher properties are positioned within Grapevine's primary retail corridor, surrounded by high-performing national and regional tenants.
"We procured an all-cash buyer based in Dallas who owns a portfolio of similar single-tenant net-leased assets in the DFW metro," Asher said. "We achieved a record cap rate for a Portillo's with an annual rent exceeding $300,000 in the Southwest."
Son of a Butcher Drive-Thru in Fort Worth, Texas
Located at 9649 Sage Meadow Trail, the 2,247-square-foot fast-casual restaurant features a new 15-year absolute triple-net ground lease. The site is a hard-corner outparcel to Alliance Town Center, a 900-acre mixed-use destination anchored by corporate offices, hotels and national and regional retailers Chipotle Mexican Grill, Firebirds Wood Fired Grill, First Watch, Original ChopShop, Panera Bread, P.F. Chang's and Whiskey Cake Kitchen & Bar.
"We helped our client sell out of a single-tenant, casual sit-down restaurant with a struggling operator and a short lease term into a newly constructed, long-term net-leased investment with strong fundamentals and a corporate-backed lease in a high-growth market," Wood said. "This off-market acquisition was sourced through an existing developer relationship and aligned perfectly with the buyer's capital redeployment and 1031 exchange objectives."
About Son of a Butcher
Son of a Butcher is a fast-casual slider bar concept based in Dallas and operated by FB Society Restaurants. The brand debuted in 2019 at Legacy Hall in Plano and has expanded to multiple locations across North Texas, including Dallas, Plano, Grapevine and Fort Worth. Known for its gourmet Wagyu sliders, handspun milkshakes and playful menu items, Son of a Butcher offers dine-in, drive-thru and delivery service in high-growth retail corridors.
About Portillo's
Founded in 1963 in Villa Park, Illinois, Portillo's is a Chicago-based fast-casual restaurant chain specializing in hot dogs, Italian beef sandwiches, chargrilled burgers and its signature chocolate cake. The company operates more than 90 locations across 10 states, including Illinois, Indiana, Wisconsin, Minnesota, Texas, Arizona, Florida, Michigan, California and Iowa. Portillo's is known for its vintage-inspired dining environments and high-volume drive-thru model, with continued expansion focused on the Sunbelt and new markets like Georgia.
Drive-thru QSRs continue to draw investor interest
"Newly constructed drive-thru quick-service restaurant properties with long-term leases continue to attract strong investor demand, especially in Texas," Asher said. "The combination of minimal landlord responsibilities, corporate guaranteed leases and no state income tax makes these assets highly desirable for 1031 exchange buyers and private investors nationwide."
About Hanley Investment Group
Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with a $12 billion transaction track record that specializes in the sale of retail properties nationwide. Our expertise, proven track record, and unwavering dedication to putting clients' needs first set us apart in the industry. Hanley Investment Group creates value by delivering exceptional results through the use of property-specific marketing strategies, cutting-edge technology, and local market knowledge. Our nationwide relationships with investors, developers, institutions, franchisees, brokers, and 1031 exchange buyers are unparalleled in the industry, translating into maximum exposure and pricing for each property. With unmatched service, Hanley Investment Group has redefined the experience of selling retail investment properties. For more information, visit www.hanleyinvestment.com.
Media Contact
Company Name: Hanley Investment Group Real Estate Advisors
Contact Person: Bill Asher, Executive Vice President
Email: Send Email
Phone: 949.585.7684
Address:3500 East Coast Highway, Suite 100
City: Corona del Mar
State: California
Country: United States
Website: https://hanleyinvestmentgroup.com/
