SRS Real Estate Partners Closes $84M in Chick-fil-A Net Lease Dispositions Across 15 Sites in Q1 2026

SRS Real Estate Partners announced that its national Capital Markets group completed 15 Chick-fil-A retail real estate dispositions totaling $84 million in the first quarter of 2026, accounting for more than 50% of all Chick-fil-A assets sold during that period, the firm said April 10.

The portfolio of recently developed properties spans five states — Florida, Texas, Georgia, Arkansas, and Oklahoma — and includes a mix of ground lease and fee simple structures. The majority of buyers were private investors participating in 1031 tax-deferred exchanges, according to the firm.

Deal Structure and Buyer Profile

The 15 transactions include both ground lease sales, which transfer ownership of the land only, and fee simple transactions, which convey both land and improvements. The majority of private buyers participated in 1031 exchanges, according to the firm.

"SRS is a market leader in the sale of single-tenant net lease assets, with a nationwide team of specialists and deep-rooted buyer relationships that drive consistent demand for high-quality investments, including Chick-fil-A-leased properties," said Patrick Luther, Senior Managing Principal at SRS Capital Markets.

Parker Walter, a Senior Associate with SRS, added: "For investors, Chick-fil-A assets present a rare opportunity to acquire a best-in-class investment, supported by exceptional credit quality, with average unit volumes that rank among the highest in the drive-thru fast-food sector."

SRS Real Estate Partners' Chick-fil-A Pipeline

The Q1 2026 activity builds on a broader run of Chick-fil-A dispositions for the Dallas-headquartered firm. Over the prior 12 months, SRS sold a total of 24 Chick-fil-A assets across the United States totaling more than $120 million. Six additional locations are currently under agreement to be sold, and the firm has 15 Chick-fil-A properties actively listed in Florida, California, Texas, Connecticut, Alabama, and Georgia.

"It's easy to see why Chick-fil-A is best in class within the QSR space and why it remains one of the top names on a net lease investor's wish list," said Patrick Nutt, Senior Managing Principal at SRS Capital Markets. "To have the opportunity to be the market-leading brokerage group selling properties leased to Chick-fil-A is a great accomplishment for SRS, attributed to our deep knowledge of the brand and markets in which it is growing."

Last year, SRS Capital Markets completed more than $3.5 billion in deal volume across 950 transactions nationally. The firm currently has in excess of 845 properties actively on the market with a combined market value surpassing $3.7 billion.

Chick-fil-A's Expansion

Chick-fil-A has expanded beyond its Southeast origins into markets across the Midwest, Northeast, and West Coast, including California, while also pursuing international growth in Canada and the United Kingdom. The firm cited the brand's disciplined site selection and operator model as factors supporting consistent performance across locations.

Firm Background

Founded in 1986 and headquartered in Dallas, SRS Real Estate Partners operates 30 offices nationwide and provides commercial real estate services across retail, industrial, and capital markets.

Sources

SRS Real Estate Partners Press Release, April 10, 2026