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Net lease

FloridaInvestment salesNet leaseNewsRetailers

SRS Brokers $4.7 Million Sale of New Retail Property Leased to 7-Eleven in Southwest Florida

by Alex Tostado

Fort Myers, Fla. — SRS National Net Lease Group has arranged the $4.7 million sale of a retail property leased to 7-Eleven in Fort Myers. The property comprises a 2,961-square-foot convenience store and a gas station. A 15-year lease is in place with 7-Eleven Inc. for the property, which was completed in late 2019. The asset is situated at 6715 Winkler Road, seven miles south of downtown Fort Myers. Parker Walter of SRS represented the buyer, a California-based private investor that was in a 1031 exchange, in the transaction. The …

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AlabamaGrocery-anchoredInvestment salesNet leaseNewsRetailers

Marcus & Millichap Negotiates $3.4 Million Sale of New Store Leased to Aldi in Phenix City, Alabama

by Alex Tostado

Phenix City, Ala. — Marcus & Millichap has negotiated the $3.4 million sale of a 21,000-square-foot, Aldi-occupied property in Phenix City. The seller, Halpern Enterprises Inc., delivered the asset earlier this year. The store is located at 3670 Marketplace Drive, six miles northwest of downtown Columbus, Ga. Aldi is occupying the space on a 20-year triple-net lease. Don McMinn of Marcus & Millichap’s Taylor McMinn Group represented the seller in the transaction. Martina Crevecoeur of International Capital Acquisitions represented the buyer, H.H. US Real Estate Phenix City LLC.

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Investment salesNet leaseNewsRetailersUtah

DWG Capital Group Arranges $6.6 Million Acquisition of Walgreens-Occupied Building in Utah

by Alex Tostado

South Ogden, Utah — Los Angeles-based DWG Capital Group has negotiated the purchase of a single-tenant, net-leased retail property located in South Ogden, approximately 35 minutes from Salt Lake City. A Sacramento, California-based private family trust acquired the property for $6.6 million. Built in 2010, the 14,490-square-foot property is situated on 1.6 acres at 6016 S. 1550 East. A corporate-operated Walgreens occupies the property under a 17-year, triple-net lease. Judd Dunning of DWG Capital Group, along with Mitchell Asset Group, represented the buyer, while Deerfield Partners represented the undisclosed seller …

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AlabamaInvestment salesNet leaseNewsRetailers

Marcus & Millichap Arranges $12.9 Million Sale of Walmart in Sylacauga, Alabama

by Alex Tostado

Sylacauga, Ala. — Marcus & Millichap has arranged the $12.9 million sale of a 178,420-square-foot Walmart in Sylacauga. The property, which was built in 1996, is double net-leased to Walmart with 11 years remaining on the lease. The asset is located at 41301 U.S. Highway 280, 45 miles southwest of downtown Birmingham. Don McMinn of Marcus & Millichap’s Taylor McMinn Group represented both the buyer, Agree Development, and the seller, RP Payton Park LLC, in the transaction.

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ArkansasInvestment salesNet leaseNewsRetailers

SRS Arranges $4 Million Sale of Retail Property in North Little Rock, Arkansas

by Alex Tostado

North Little Rock, Ark. — SRS Real Estate Partners National Net Lease Group has arranged the $4 million sale of an 8,000-square-foot retail property in North Little Rock. The property is fully leased to Vitamin Shoppe and Mattress Firm on their respective corporate-guaranteed triple-net leases. The property is situated at 4300 McCain Blvd., seven miles north of downtown Little Rock. The asset is an outparcel to a Lowe’s Home Improvement-anchored shopping center. Brian Wolfman of SRS represented the seller, Los Angeles-based McCain Plaza LLC, in the transaction. Aaron Hines of …

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CaliforniaGrocery-anchoredInvestment salesNet leaseNews

Marcus & Millichap Negotiates $22.1 Million Sale of Alberstons-Occupied Retail Asset in San Diego

by Alex Tostado

San Diego — The Mansour Group of Marcus & Millichap has arranged the sale of a single-tenant retail condominium located at 655 14th St. in downtown San Diego. A Los Angeles-based private investor acquired the asset from a San Diego-based ownership group for $22.1 million. Albertsons grocery store occupies the 43,000-square-foot property on a long-term, triple-net lease basis. Alvin Mansour and Kevin Mansour of Marcus & Millichap’s The Mansour Group, along with Pasquale Ioele and Michael Burton of Flocke & Avoyer represented the seller in the deal.

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CaliforniaContent PartnersEntertainmentFaris Lee InvestmentsInvestment salesNet leaseNewsRetailers

Faris Lee Negotiates $16 Million Sale of LA Fitness-Occupied Property in Bay Area

by Alex Tostado

Hayward, Calif. — Faris Lee Investments has brokered the sale of a retail property located at 2401 Whipple Road in Hayward. A private investor acquired the asset from an undisclosed seller for $16 million. LA Fitness (City Sports Club) occupies the 41,000-square-foot facility on a corporate-guaranteed, absolute triple-net lease. Matt Brooks, Joe Chichester and Nicholas Coo of Faris Lee represented the seller and procured the buyer in the transaction.

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FloridaNet leaseNewsRetailers

Marcus & Millichap Brokers $3.6 Million Sale of Firestone-Leased Retail Property Near Tampa

by Alex Tostado

Spring Hill, Fla. — Marcus & Millichap has brokered the $3.6 million sale of a Firestone Complete Auto Care in Spring Hill. The property, which comprises 5,789 square feet, is situated at 4833 Commercial Way, 45 miles north of downtown Tampa. The property is triple-net-leased to Firestone. Don McMinn of Marcus & Millichap’s Taylor McMinn Retail Group represented the seller, FS Spring Hill LLC, in the transaction. David R. David of WA Development represented the buyer, 4 H Ranch LLC. McMinn says the property had multiple offers due to its …

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Investment salesNet leaseNewsRetailersTennessee

B+E Brokers $6.8 Million Sale of Academy Sports Net-Leased Property in Western Tennessee

by Alex Tostado

Jackson, Tenn. — B+E has brokered the $6.8 million sale of an Academy Sports + Outdoors net-leased property in downtown Jackson. The buyer, Chimblo Family Real Estate LLC, worked with B+E to complete a 1031 Tax Deferred Exchange via B+E’s online sales platform. The property is located at 193 Stonebrook Place. Academy has 12 years remaining on its lease. The seller was not disclosed.

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CaliforniaInvestment salesNet leaseNews

Flocke & Avoyer Arranges Sale of Three Triple-Net Leased Assets in Oceanside, California

by Alex Tostado

Oceanside, Calif. — Flocke & Avoyer Commercial Real Estate has directed the sale of three single-tenant, triple-net leased assets at Pacific Coast Plaza Center, a 450,000-square-foot retail center in Oceanside. AGC Pacific Coast Plaza sold the three properties for a total consideration of $11.2 million. Mahalah PCP Pad A and C acquired two properties, occupied by McDonald’s and Mimi’s, while H&S Energy purchased the Chevron-occupied asset. Steve Avoyer of Flocke & Avoyer represented the buyer, a private 1031 exchange, in the McDonald’s and Mimi’s transaction. El Warner of The Matthews …

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