Cookout’s real estate arm spent $5.5 million on the shuttered Lidl grocery store property, making the largest acquisition in its multi-year Triad real estate spree.
The sale of the 3.57-acre property at 1147 Randolph St. in Thomasville closed Wednesday, according to a filing with the Davidson County Register of Deeds.
Lidl operated out of a 52,466-square-foot store at the property, which debuted in August 2017 as one of the chain’s first Triad locations.
The Lidl chain exited the Davidson County market in July 2022 with the closure of its Thomasville store, following the closure of its Lexington store in January 2022.
In August 2022, Cookout Real Estate paid $4.05 million for Riddle Real Estate, located at 1265 Fairview Drive in Lexington.
The low-cost grocer has locations at 2445 Fairlawn Drive and 3315 Sides Branch Road and 5696 W. Gate Blvd in Winston-Salem. 3005 Martinsville Road in Greensboro and 3010 S. Church St. in Burlington.
Others are also reading…
As is often the case when the Thomasville-based fast-food restaurant company makes a real estate deal, Cook Out officials could not be reached for comment on the deal.
The real estate division could have bought the property as an investment rather than a new restaurant location, as is increasingly the case.
Since June 2021, the real estate division has spent a total of $19.5 million on 13 Triad properties.
Other recent purchases include:
*A total of $3.45 million as of September 2023 for four properties in Greensboro.
* In October 2020, $1.81 million was paid for a 1.55-acre parcel at 6310 Allegacy Way in Clemmons, which includes an Applebee’s store as a long-term tenant.
*$1.15 million in June 2021 for property at 2897 Reynolda Road in Winston-Salem, where Cookout opened a restaurant.
* $1.01 million in June 2023 for a 0.92-acre parcel at 2707 S. Main St. in Greensboro that has been used as a Bojangles restaurant site and a 2.746-square-foot building.
* 3800 Gate City Blvd. property in Greensboro for $749,000 in November 2021.
* $660,000 in November 2023 for the former Lexington restaurant site at 1507 Cotton Grove Road, 1.78 acres including a 7,985-square-foot building. Cook-Out is located at 1700 Cotton Grove Road in Lexington.
*$560,000 in August 2021 for 0.62 acres including a 3,206-square-foot restaurant off Julian Avenue in Thomasville.
*$550,000 in September 2021 for 14.82 acres of vacant land at 501 Cloniger Road, Thomasville.
Cook Out official Jeremy Reeves said when the Clemmons and High Point properties were purchased, they were investments. “It’s on a long-term lease to an existing operating restaurant,” Reeves said.
Cook Out currently has 27 Triad locations: five in Winston-Salem, six in Greensboro, two in High Point, Asheboro, Boone, Burlington, Eden, Elkin, Graham, Kernersville, King, Lexington, Mebane, Mount Airy, Reidsville, Thomasville, Wilkesboro.
The Cook Out website also lists the following locations as “coming soon.” 5326 W. Market St. in Greensboro. 1562 Yadkinville Road, Mocksville. 685 W. Academy St. in Randleman and 1646 Freeway Drive in Reidsville.
rcraver@wsjournal.com
336-727-7376
@rcraverWSJ