The land beneath a newly opened Chick-fil-A in Riverview has sold for $4.85 million, marking a swift ownership change just 20 days after the restaurant began serving customers. The transaction involves a ground lease that allows Chick-fil-A to continue operating at the busy South U.S. Highway 301 location.
Key takeaways
- The 14310 S. U.S. Highway 301 property sold for $4.85 million.
- Trondheim LLC purchased the land from 2022 Balm Riverview LLC.
- Chick-fil-A remains the tenant under a ground lease.
- The restaurant opened Aug. 20 and is expected to employ about 120 people.
- Chick-fil-A declined an opportunity to purchase the property before the sale.
The sale separates ownership of the land from operation of the restaurant, a common structure in commercial real estate. Chick-fil-A will continue running the Riverview location under the terms of its existing lease.
Chick-fil-A declined purchase opportunity
The ground lease included a right of first refusal, giving Chick-fil-A the opportunity to match a proposed purchase before the property could be sold to another buyer. The restaurant company declined that opportunity in an Aug. 28 letter, allowing the transaction with Trondheim LLC to proceed.
The company’s decision did not end its protections under the lease. Chick-fil-A retained the right of first refusal for future offers that fall within the agreement’s terms.
New restaurant opened in August
The Balm Road restaurant opened Aug. 20, with Lorena Kurtjian Hernandez serving as the local owner-operator. The location is part of the broader growth of the Riverview area, where residential development and increased traffic along U.S. 301 have supported new retail and dining projects.
Chick-fil-A said the restaurant would create approximately 120 jobs, adding to the area’s employment base. The company also marked the opening with a $25,000 donation to Feeding Tampa Bay.
What the sale means for the location
For customers and employees, the property sale is not expected to change the restaurant’s day-to-day operations. Chick-fil-A remains responsible for operating the business, while Trondheim LLC now owns the underlying real estate.
The $4.85 million transaction also highlights the value of well-located commercial land in one of Hillsborough County’s growing suburban corridors. With the restaurant newly opened and protected by a long-term ground lease, the property offers its new owner an established commercial tenant from the outset.