Sonic Sales

Two Sonic Drive-In properties have sold to an Encino, Calif.-based private trust for $1.5 million. The properties are at 710 E. Broadway in Drumright and 14617 N.E. 23rd St. in Choctaw.
Hooman Ghaffari of Sperry Van Ness in Woodland Hills, Calif. represented the buyer, a private individual who is exchanging apartment properties in Los Angeles, which were sold at below 5 percent cap rates.
Jason Little of Sperry Van Ness in Oklahoma City represented the seller, a private investor from Oklahoma City.
The properties each total 2,400 SF and are located in growth areas on major highways.
Each restaurant location is undergoing renovations of over $200,000 and upgrades at the tenant’s expense.
Oklahoma City-based Sonic, originally started as a hamburger and root beer stand in 1953 in Shawnee called Top Hat Drive-In, changed its name to Sonic in 1959. The first drive-in to adopt the Sonic name is still serving customers in Stillwater. Sonic has more than 3,200 drive-ins coast to coast and in Mexico, where more than 1 million customers eat every day.

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