Mountain West Commercial Brings Buyer for Red Lobster In Billings, Mt.
Salt Lake City– Mountain West Commercial Real Estate, a Salt Lake City-based brokerage announces the $6.6M investment sale of Red Lobster, the only one in a well-established retail corridor in Billings, Montana. The net leased Red Lobster property is located at 2250 King Ave W.
Marcus & Millichap broker Drew Isaac represented the seller OCH-King Avenue, LLC, an entity of Denver-based O’Connell Properties.
“We sold this deal in a pinch, it was a buttery smooth 15-day escrow for the buyer to catch this Red Lobster,” said Isaac.
Mountain West Commercial Real Estate agents Brett Palmer, Adam Hawkes, and Chandler Griffin represented the 1031 Exchange buyer Wayne A. Belleau.
“This property fit the buyer’s criteria of being a strong location, with a good tenant on a long-term lease,” Brett Palmer said.
Wayne A. Belleau will take over an 8,406 SF restaurant which is one of the highest revenue grossing restaurants in the area.
