Quench It!
Herriman, UT
Quench It! is a popular soda shop chain that originated in Heber, UT. Quench It! serves award winning Suss Cookies, pretzel knots, gourmet popcorn, and of course the best drinks around! Since 2014, Quench It! has experienced rapid growth–expanding rapidly to 5 operating locations across Utah, with 15 additional locations slated to open in both Utah and Texas in 2022.
Property Information
- Tenant: Quench It!
- Location: 4972 West 12600 South, Herriman, Utah 84096
- Property Type: Freestanding, Food
- Building Size: 1,617 Square Feet
- Purchase Price: $1,458,800
- Cap Rate: 5.10%
Herriman, UT
Herriman is a city in southwestern Salt Lake County, Utah. The city has experienced rapid growth since incorporation, growing to the 14th-largest incorporated place in Utah in 2020.
U.S. Census Bureau data shows that Herriman was the fastest-growing city over 10,000 residents in the United States between 2010-2019.
In April 2021, WalletHub ranked Herriman as the #1 city in the United States in “access to resources” for starting a new business. Herriman was rated #37 nationally for cities to start a business out of 1,337 cities overall.
About Tenant In Common
Tenant in common or TIC ownership allows two or more people to hold an ownership interest in a property. Each property owner or business
entity holds its own separate stake in the property and receives a deed.Their interests do not have to be equal.
This Millcreek Commercial property has the following characteristics:
- Property is offered debt-free
- Long-term, corporate-guaranteed lease
- Satisfies IRS requirements for 1031 exchanges
Office | 801.899.1943
Lease Information
- Lease Guarantor: Kevin and Julie Ann Forsgren (Owners)
- Initial Lease Term: 10 Years
- Rent Increases: No Escalations
- Renewal Options: No Renewal Options
- 10 Yr. Avg. Return: 5.25%
