South Jordan, Utah – April 3, 2017 – NAI Northern California, the bay area presence of NAI Global with 400 offices and 6,700 professionals worldwide, is proud to announce the $2.875M sale of a Net Leased R&R BBQ in South Jordan, Utah. Investment Advisor Tim Setiawan of NAI, exclusively represented the buyers in their 1031 exchange.
Tim Setiawan found and researched numerous exchange options in advance of the clients’ downleg sale closing, bringing a team of professionals together.
“Once in contract to sell their 7-unit apartment building in San Francisco, an extensive national search was undertaken for NNN retail properties with much greater cash flow and much less management” stated Mr. Setiawan.
The property is a completely renovated 4,882 square foot restaurant, that opened in 2016. The operators plan to quickly expand this concept through South Jordan, a rapidly growing region of Utah. R&R BBQ currently operates two locations in Utah.Twin brothers, Rod and Roger Livingston, co-founded the brand in 2012 after years of winning barbeque competitions.
Nestled in a busy metropolitan plaza, this restaurant is next to big box retailers and medical offices, and is near Salt Lake City International Airport. The concept has quickly racked up 165 positive reviews.
About NAI Global
NAI Global is the largest, global commercial real estate brokerage network. Founded in 1978, today NAI Global has more than 400 offices strategically located throughout North America, Latin America, Europe and Asia Pacific with over 6,700 local market professionals, managing over 380 million square feet of property. Global offices deliver market-leading services locally and combine their in-market strengths to form a powerful bond of insights and execution for clients with multi-market challenges. To learn more, visit www.nainorcal.com