Sonic Drive-In is a quick service, drive-in restaurant with a brand new 15 year Absolute NNN Lease offering 7% rental escalations every 5 years. Sonic Corporation is the nation’s largest drive-in restaurant chain serving approximately 3 million customers every day. The high quality food and drinks, combined with their one of a kind carhop delivery service style, positions them as the most highly differentiated concept in the quick service restaurant category. The tenant, PVG Restaurant Group, is the largest Sonic franchisee in the Atlanta DMA and is an experienced 27 unit operator in Georgia and South Carolina with the tenant/lease guarantor encompassing 18 restaurant locations.
The subject property is located in Greenwood, South Carolina, on Bypass 72 NE on the main retail corridor and has successfully been open for business since 1994 with an attractive 7.25% rent-to-sales ratio. Sonic is surrounded by national retailers: Save-A-Lot, BI-LO, Walmart, Kmart, Hobby Lobby, Big Lots, Publix Super Market, Lowe’s Home Improvement, PetSmart and Kohls.
*In Association with: Langston Black