MIAMI (December 16, 2019)—Tiktin Real Estate Investment Services (TREIS), a leading commercial real estate investment sales brokerage firm, has announced the sale of a 4,675 square-foot building occupied by Applebee’s, located at 10895 Montgomery Blvd. NE in Albuquerque, NM. AIGP Realty, LLC, a subsidiary of a national multi-franchisee group led by Andy Patel, sold the property to Kurt and Mary Kippenhan for $2.175 million, who were in a 1031 Exchange. Adam J. Tiktin and Alejandro Snyder of TREIS represented the Seller. Closing took place Dec. 12th.
Applebee’s has a new 15-year absolute NNN lease with built-in 10 percent increases every five years and four, five-year options to renew.
The building, situated on a 1.1-acre lot, was constructed in 1999 and renovated in 2010. The property offers direct frontage, signage and access along Montgomery Boulevard with traffic counts in excess of 20,000 vehicles per day. The building is conveniently located approximately one mile from the Tramway Boulevard (SR-556) intersection, which connects to major interstate highways, I-40 and I-25.
For more information, please call 305-363-4750 or 844-4-TIKTIN or visit www.tiktinrealestate.com.
About Tiktin Real Estate Services
Tiktin Real Estate Investment Services (TREIS) is a South Florida-based commercial real estate investment sales brokerage firm specializing in the sale of shopping centers and office buildings in Florida and single-tenant net lease properties nationally. Founded in 2001 by industry veteran Adam J. Tiktin, TREIS is committed to a higher level of service and an unmatched standard of integrity. The investment sales firm is distinguished by its personalized approach, transactional expertise, comprehensive market analysis and aggressive strategies. www.tiktinrealestate.com.