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Net lease

Cost-U-Less-Hilo
HawaiiInvestment salesNet leaseNews

SRS Brokers $5.5 Million Sale of Cost-U-Less Occupied Retail Property in Hilo, Hawaii

by Hayden Spiess

Hilo, Hawaii — SRS Real Estate Partners has arranged the sale of a single-tenant retail property located at 715 Kinoole St. in Hilo. A mainland-based private investor acquired the asset from a Hawaii-based private investor for $5.5 million. Cost-U-Less, a warehouse-style retail chain, occupies the 23,016-square-foot building, which was built in 2002. Nicholas Paulic, AJ Cordero, Matthew Mousavi and Patrick Luther of SRS Real Estate Partners’ National Net Lease Group represented the seller in the transaction.

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ConnecticutInvestment salesNet leaseNews

New England Retail Properties Arranges $10.5 Million Sale of Six Retail Properties in Connecticut

by Katie Sloan

Wethersfield, Conn. — New England Retail Properties has arranged the sale of six retail properties in Connecticut net leased to Smithland Supply. Matt Halprin of Wethersfield, Connecticut-based New England Retail represented the sellers — Retail Property One LLC, Retail Property Two LLC, Retail Property Three LLC and Retail Property Four LLC — in the transactions. Previously operated as Agway stores, the freestanding Smithland Supply properties are located in Manchester, Southington, Bethel, North Haven, Middlefield and North Branford, Connecticut. The properties were acquired by Trio Fund I CT Portfolio.

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Piqua-Starbucks
Investment salesNet leaseNewsOhio

Cooper Commercial Investment Group Arranges $2.8 Million Sale of Starbucks Location in Suburban Dayton

by Katie Sloan

Piqua, Ohio — Cooper Commercial has arranged the $2.8 million sale of a single-tenant retail building occupied by Starbucks Coffee in the Dayton suburb of Piqua. Dan Cooper of Cooper Commercial represented the seller, a private developer out of the Midwest, in the disposition of the property to an undisclosed Missouri-based buyer. The location was designed according to the latest Starbucks prototype, featuring a drive-thru lane, patio and prominent signage. The property is occupied under a 10-year, triple-net-lease featuring 10 percent rent increase every five years.

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5731-Bickett-St-Huntington-Beach-CA
CaliforniaDevelopmentInvestment salesNet leaseNews

Stan Johnson Co. Brokers $48.7 Million Sale of 56,000-Square-Foot Target Development Near Los Angeles

by Katie Sloan

Huntington Park, Calif. — Stan Johnson Co. has brokered the sale of a freestanding retail property located at 5731 Bickett St. in Huntington Park, just southeast of downtown Los Angeles. A New York-based private investor acquired the asset for $48.7 million. Principal Life provided acquisition financing. Developer Shane Cos. will complete the 56,000-square-foot building in January 2023. Target will occupy the property under a long-term, triple-net lease. Situated on 4.1 acres, the site will feature a Starbucks Coffee, Tesla charging station and an urban-format Target. Jason Maier of Stan Johnson Co. represented …

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IllinoisInvestment salesNet leaseNews

Marcus & Millichap Negotiates $4.2 Million Sale of Chicago Store Net Leased to Just Tires

by Katie Sloan

Chicago — Marcus & Millichap has negotiated the sale of a 6,000-square-foot retail property net leased to Just Tires in Chicago for $4.2 million. The asset is located at 4809 N. Broadway St. in the Uptown neighborhood. Nicholas Kanich of Marcus & Millichap brokered the transaction between the Chicago-based seller and Delaware-based buyer.

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9420-Scranton-Rd-San-Diego-CA
CaliforniaInvestment salesNet leaseNews

SRS Real Estate Partners Brokers $8.1 Million Sale of Planet Fitness-Occupied Retail Property in San Diego

by Katie Sloan

San Diego — SRS Real Estate Partners has arranged the sale of single-tenant retail building located at 9420 Scranton Road in San Diego. A Southern California-based retail property owner and operator sold the property to a Southern California-based family partnership for $8.1 million in an all-cash transaction. Planet Fitness occupies the 17,000-square-foot building, which was built in 1986 and renovated in 2020. Matthew Mousavi and Patrick Luther of SRS’ National Net Lease group represented the seller and buyer in the deal. 

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Murphy-Express
Content PartnersFaris Lee InvestmentsGeorgiaInvestment salesLouisianaNet leaseNews

Faris Lee Brokers Sale of Two Convenience Store Properties in Louisiana, Georgia

by Katie Sloan

Baton Rouge, La. and McDonough, Ga. — Faris Lee Investments has brokered the sale of two convenience store properties located in Louisiana and Georgia. Jeff Conover, Scott DeYoung and Hunter Steffien of Faris Lee represented the undisclosed seller in both transactions, which totaled $8.2 million. Dispositions include a single-tenant property occupied by Murphy Oil under a 20-year, absolute, triple-net ground lease at the intersection of Airline Highway and Old Hammond Highway in Baton Rouge, Louisiana; and a single-tenant property occupied by QuikTrip under a 15-year, absolute, triple-net lease in McDonough, …

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Phenix-Salon-Suites
CaliforniaInvestment salesNet leaseNews

Hanley Investment Group Arranges $6.3 Million Sale of Single-Tenant Retail Building Near Los Angeles

by Katie Sloan

Redondo Beach, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $6.3 million sale of a single-tenant retail building located in Redondo Beach, roughly 19 miles southwest of Los Angeles. The 9,502-square-foot property is net-leased to Phenix Salon Suites. The building is located within King Harbor Plaza, a shopping center anchored by Petco and Smart & Final Extra! Bill Asher and Jeff Lefko of Hanley represented the seller, a private investor based in Los Angeles. John Boyle of Midland Business Properties represented the buyer, a private investor based in …

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Conference CoverageContent PartnersFeaturesFinanceIndustry ContentLearn from Industry LeadersNet leaseRetail InsightVideos

Stan Johnson Company: Net Lease Retail — Investment Opportunities in the Face of Changing Market Conditions

by Sarah Daniels

Where are the opportunities in today’s single tenant net lease (STNL) market? The ever-changing nature of today’s retail environment has placed an emphasis on finding the best properties, while compressed cap rates and rising interest rates have created obstacles for investors looking for yield. Rent increases, tenant types, lease timelines and risk tolerance are all on the minds of established investors in the market as well as those looking to enter the arena for the first time. Regarding the new tenant entries to the net lease market, Curtis Hodges, senior vice …

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ConnecticutInvestment salesNet leaseNews

Marcus & Millichap Brokers $11.7 Million Sale of Two Connecticut Retail Properties Leased to Walgreens

by Katie Sloan

Monroe and Newington, Conn. — Marcus & Millichap has brokered the sale of two Connecticut retail properties that are net leased to Walgreens for a combined price of $11.7 million. Both properties, which are located in Monroe and Newington, total approximately 15,000 square feet. Nick Geaneotes, Steve Garthwaite and Derrick Dougherty of Marcus & Millichap represented the sellers, both of which were limited liability companies, in the transactions. The trio also procured the undisclosed buyers. Susan Bands of Marcus & Millichap assisted in closing both deals as the broker of …

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