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Newburger-Andes Real Estate Investments' David Andes and Steve Farrar haven't met an Advance Auto Parts they didn't like. Or a KFC. Or a Dollar General. Or any number of national retail single-tenant locations.
david andes steve farrar newberger andes triple net retail arby's advance auto kfc syndicate
Steve and David, here at their Roswell office (next to Ruth's Chris), tell us the local real estate investment firm acts as a syndicate— finding CRE and raising the capital to buy it through a network of investment partners. It's been Newburger's strategy since 1975 when David's father Jerry and Sid Newburger formed it. The firm owns2.1M SF in 88 properties with a 92% occupancy, David tells us, and it's looking to grow to 150 properties in the next few years. While it primarily owns multi-tenant industrial and retail, Newburger, an all-cash buyer, is focusing on single-tenant triple-net retail deals, including its pending purchase of an Advance Auto Parts store on Bells Ferry Road in Acworth, its fourth Dollar General buy in Locust Grove, and a vacant Arby's on Powder Springs Street that the duo hope to quickly lease out. ?It's generally considered by the community as a safe bond-yield investment with predicable returns,? he says. And while long-term holders, David says there will come a day when Newburger Andes might package and sell its portfolio to cash out—sometime during the rise to the next peak of a new CRE cycle.