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Castle Hayne, N.C. — SRS Real Estate Partners has brokered the $7 million sale of a newly constructed, single-tenant retail property in Castle Hayne, roughly 11 miles north of Wilmington. The 21,930-square-foot building is occupied by Tractor Supply, which had 14 years remaining on its corporate-guaranteed lease at the time of sale.
Calvin Short of SRS represented the seller, a Pinehurst, North Carolina-based developer, in the transaction. Pierce Mayson of Matthews Real Estate Investment Services represented the buyer, an unnamed investor based in Conyers, Georgia, that was completing the second leg of a 1031 exchange.