LOS ANGELES, CA – James Capital Advisors has closed the $125 million sale-leaseback of a 49-property SONIC Drive-In portfolio, on behalf of an existing franchisee.
The real estate advisory firm's corporate real estate division arranged the transaction. The division's senior director, Reed Melillo and senior associate, Nina Valtchanov led the transaction.
The transaction represents the division's third SONIC sale-leaseback portfolio this year. In April 2021, the team completed a 10-property portfolio of SONIC locations, before coordinating a 15-property SONIC sale-leaseback portfolio in July 2021.
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Overall, the James Capital Advisors team has advised on 74 SONIC sale-leaseback transactions in 2021.
"SONIC has excelled over the last two years under Inspire Brands' ownership," says Melillo. "Many long-time operators are choosing to cash in on the brand's well-earned success and take chips off the table for themselves and their families."
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
