Dallas -- Real estate investment firm The Cogent Group said Tuesday that it has acquired 15 KFC properties in North Carolina. The properties are leased to a franchisee.
The 15 units are located in prime retail corridors in the North Carolina Triad market consisting of Greensboro, Winston Salem, and High Point, with above average unit sales. The properties are subject to long-term triple net leases having an initial term of 20 years, plus renewal options.
“The purchase of these high quality assets, subject to long-term leases with a highly-regarded operator, is an ideal fit for our investment strategy and our long-term strategic partner, as we continue to add to our real estate portfolio of triple-net lease properties throughout the United States,” said Scott Kipp, a co-founder and principal of The Cogent Group.
Cogent recently also developed properties for 7-Eleven and Whataburger, acquired an Uncle Julio’s restaurant, and completed a sale-leaseback transaction with VPS Convenience Store Group.