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CaliforniaInvestment salesNet leaseNewsRetailers

SRS Arranges $12.9 Million Sale of Avery Center Shops in Mission Viejo, California

by Alex Tostado

Mission Viejo, Calif. — SRS Real Estate Partners’ Investment Properties Group has arranged the sale of the retail component with Avery Center in Mission Viejo. Orange County-based Pacific Castle sold the property to an Orange County-based family for $12.9 million. The 16,568-square-foot retail portion includes two fully occupied retail buildings located at 28601-28621 Marguerite Parkway. Built in 1977 and renovated in 2016, the asset’s triple net leased tenants include Jimmy John’s Gourmet Sandwiches, Epic Wings, Broken Yolk Café and Big Grill Mongolian BBQ, as well as four local retailers. Patrick …

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Investment salesMassachusettsNet leaseNewsRetailersTexas

Hospitality Properties Trust Buys National Net-Lease Retail Portfolio for $2.4 Billion

by Alex Tostado

Newton, Mass. And Dallas — Hospitality Properties Trust (NASDAQ: HPT) has purchased a portfolio of net-leased retail assets from Spirit MTA REIT for $2.4 billion. The portfolio consists of 774 service-oriented retail properties in 43 states that are occupied by tenants including AMC Theatres, Academy Sports + Outdoors and CarMax. The portfolio was 98 percent occupied as of March 31 and has a weighted average remaining lease term of 8.6 years. The portfolio includes all of SMTA’s owned properties held in its “Master Trust 2014” segment and excludes approximately 100 …

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FeaturesIndustry ContentInvestment salesNet leaseRetail Insight

Express Car Washes Are A Bright Choice For Net Lease Investors

by SCB Staff

By Austin Blodgett and Eric Wohl, Hanley Investment Group The professional car wash industry is more than 100 years old. Yet, the category has only recently picked up steam as a viable alternative to traditional net leased retail properties for private investors. Savvy private investors in today’s complex real estate market are following in the footsteps of what some of the larger REITs are looking to acquire. Namely, single-tenant express car washes. Unlike a McDonald’s or a Starbucks, net leased car wash properties are still a relatively new category for …

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Investment salesNet leaseNewsOhioRetailers

Marcus & Millichap Arranges $2.7 Million Sale of Net-Leased Walgreens Property in Ohio

by Alex Tostado

Delaware, Ohio — Marcus & Millichap has arranged the sale of a 14,490-square-foot property net leased to Walgreens for $2.7 million. The building is situated on 1.7 acres at 19 London Road in Delaware, Ohio, about 30 miles north of Columbus. The property was built in 2001. Walgreens recently extended its lease through 2026. Dan Yozwiak of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. Brandon Hanna of Encore Real Estate Investment Services secured and represented the buyer, a private investor.

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