Raising Cane’s Warwick Sells for $3.7M via H&T Retail Team

WARWICK, RI — Bob Horvath, Todd Tremblay, Matt Nadler, Kyle Danielson, and Jack Laurendeau of Horvath & Tremblay have completed the sale of a Raising Cane’s in Warwick, Rhode Island. H&T exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $3,700,000, which represents a 5.0% Cap Rate.

The recently constructed Raising Cane’s is located at 336 Bald Hill Road in Warwick, Rhode Island, and consists of a 3,286 square foot building with a drive-thru. Raising Cane’s has 14+ years remaining on its Absolute NNN Ground Lease with five (5), five-year renewal options. The lease calls for attractive 10% increases every 5 years throughout the primary lease term and at the start of each renewal option.

The new construction Raising Cane’s is extremely well located at the signalized intersection of Bald Hill Road (RI Route 2), the region’s primary retail corridor, and W Natick Road (RI Route 5), a primary commuter corridor. The Property enjoys outstanding visibility, frontage and access and is part of a dominant trade area that is home to countless national retailers and restaurants, the Warwick Mall, Kent County Memorial Hospital, TF Green Airport, and major roadways including US Route 1 and Interstates 95 and 295, all of which drive traffic to the area. Additionally, the Property is within minutes of several area schools, multiple nationally branded hotels/motels, and is surrounded by densely populated residential neighborhoods, providing a built-in customer base.

Horvath & Tremblay has been growing rapidly over the past five years, and is one of the most active and successful Investment Real Estate Brokerage firms in the country.