Harrisonburg Dairy Queen sells for $1.15M
The drive-through franchise will remain in the building.
A Dairy Queen Grill & Chill in Harrisonburg sold for $1.15 million, Denver-based Blue West Capital announced Thursday.
Dairy Queen was the only tenant leased to the property at 78 S. Carlton Street in Harrisonburg.
The property sold as a sale-leaseback. The Dairy Queen franchisee will still be able to use the building, but will lease instead of own it. The franchisee signed a new long-term lease at closing and is also developing a new location in Richmond.
Robert Edwards and Shawn Dickmann of Blue West Capital represented the seller, Chesa Holdings LLC. The buyer, Lightkeeper LLC, was represented by a local broker.
“Even with all the uncertainty in the market surrounding COVID-19, investors are still eagerly buying quality single-tenant, net=leased assets,” said Dickmann. “Quick-serve restaurants with drive-thrus are still able to serve their customers while following government distancing guidelines.”
Blue West Capital focuses on the acquisition and disposition of retail shopping centers and commercial investment properties.