Net lease

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IllinoisInvestment salesNet leaseNews

Greenstone Partners Brokers $2.3 Million Sale of Starbucks-Occupied Property in Lakemoor, Illinois

by Hayden Spiess

Lakemoor, Ill. — Greenstone Partners has brokered the $2.3 million sale of a newly constructed retail property occupied by Starbucks Coffee in Lakemoor, located in Northeast Illinois. The net-leased building is situated within the larger Lakemoor Commons development, which is home to tenants such as Heartland Dental, Chipotle Mexican Grill and Buona Beef. Brewster Hague and Jason St. John of Greenstone represented the seller, a Chicago-area developer. The duo also procured the buyer, a private entity based in California completing a 1031 exchange.

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CVS
FloridaInvestment salesNet leaseNews

Marcus & Millichap Brokers $6.3 Million Sale of CVS/pharmacy Location in Orlando

by Hayden Spiess

Orlando, Fla. — Marcus & Millichap has brokered the $6.3 million sale of a single-tenant retail building located at 3212 Curry Ford Road in Orlando. The 13,824-square-foot property is net leased to CVS/pharmacy. Gabriel Britti, Ricardo Esteves and Ronnie Issenberg of Marcus & Millichap’s Miami office represented the seller, a limited liability company, and the undisclosed buyer.

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ColoradoInvestment salesNet leaseNews

Blue West Capital Negotiates $4.4 Million Sale of Firestone-Occupied Property in Colorado Springs

by Hayden Spiess

Colorado Springs, Colo. — Blue West Capital has brokered the sale of a single-tenant, net-leased retail building located at 1358 Republic Drive in Colorado Springs. A private REIT sold the property to a Florida-based investor for $4.4 million. Firestone Complete Auto Care occupies the 6,116-square-foot building, which was constructed in 2021, on a long-term, absolute triple-net lease that includes rental increases every five years. Brandon Gayeski and Zach Wright of Blue West Capital represented the seller in the transaction.    

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CaliforniaInvestment salesNet leaseNewsRestaurants

SBH Real Estate Group Divests of Pollo Campero-Occupied Restaurant Property

by Hayden Spiess

Covina, Calif. — SBH Real Estate Group has completed the disposition of a triple-net-leased restaurant asset located at 1477 N. Azusa Ave. in Covina. HB Property Management acquired the asset for $4.6 million. Pollo Campero, a fast-casual restaurant chain, signed a 15-year ground lease to occupy the restaurant property, which is slated to open for business at the end of September. Matt Schwartz of Newmark represented Eric Silverman of SBH Real Estate Group, while Moon Lim of JLL represented the buyer in the deal.

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Faris Lee InvestmentsInvestment salesLouisianaNet leaseNews

Faris Lee, SRSA Broker $31.4 Million Sale of Single-Tenant New Orleans Store Net-Leased to Whole Foods Market

by Hayden Spiess

New Orleans — Faris Lee Investments and SRSA Commercial Real Estate have brokered the $31.4 million sale of a single-tenant net-lease Whole Foods Market located at 5600 Magazine St. in New Orleans. The store, which is one of two Whole Foods in the city, is situated near Tulane University and was originally a street car barn constructed in 1893. Faris Lee’s Scott DeYoung and Jeff Conover, along with SRSA’s Steve Reisig, Chris Robertson and Kirsten Early, represented the undisclosed seller in the transaction. Jason Maier with Stan Johnson Co. represented …

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Content PartnersFaris Lee InvestmentsFinanceIndustry ContentInvestment salesMarketingNet lease

Today’s Pricing Strategy is a Mix of Art, Science

by Sarah Daniels

There will always be a tug-of-war between retail buyers and sellers — or, really, buyers and sellers of any kind. Both parties want to achieve the best price, but that number looks quite different depending on their side of the table. Though every asset is different, in many ways pricing is made easier based on whether it’s a buyer’s or seller’s market. But what about those transition times? The ones where a market has crested or dipped and is going the other direction? “Pricing today is a little bit of …

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KFC-Taco-Bell-Naperville-IL
IllinoisInvestment salesNet leaseNews

Boulder Group Brokers $2 Million Sale of Net Leased Restaurant Property in Suburban Chicago

by Hayden Spiess

Naperville, Ill. — The Boulder Group has brokered the $2 million sale of a restaurant property net leased to KFC and Taco Bell in the Chicago suburb of Naperville. The 2,982-square-foot building is located along Reflection Drive. Randy Blankstein and Jimmy Goodman of Boulder represented the buyer, a Midwest-based real estate investor completing a 1031 exchange. A Southeast-based real estate company was the seller.

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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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