Snell & Veale of KLNB ink 2,538 s/f restaurant building
WESTMINSTER, MD — KLNB announced the disposition of a 2,538 s/f restaurant building in Westminster currently housing an Arby’s. Peter Snell, director of single tenant investment sales and Sophia Veale of KLNB, represented the seller. Snell said, “This is a great investment for a buyer looking to break into the greater Washington, DC area. Arby’s historical commitment to the location, in addition to recently extending the primary lease term at a higher rental rate, shows the strength of the local market. With zero landlord responsibilities, this Arby’s is an excellent opportunity for a buyer looking for a solid investment with passive income.” This net leased Arby’s has a track record of successful operations at this location for the past 19 years. Arby’s recently extended the term of the lease at a higher rental rate with five years remaining on the lease with an additional five-year option. The property is an out parcel of the 620,000 s/f Townmall of Westminster.