Net lease

SRS Arranges $13.6 Million Sale of 42,311-Square-Foot Single-Tenant Property in Lutz, Florida

by Hayden Spiess December 4, 2023

Lutz, Fla. — SRS Real Estate Partners has arranged the $13.6 million sale of a 42,311-square-foot single-tenant retail property in Lutz. EoS Fitness occupies the building on a 15-year triple-net lease. Situated on 3.9 acres, the property is located within Cypress Ranch, a 164-acre mixed-use development. Upon completion, Cypress Ranch will feature 11 freestanding retail parcels. Tenants at the parcels will include Chick-fil-A, ALDI and Panda Express. Patrick Nutt and William Wamble of SRS represented the seller, Barclay Group. A California-based buyer acquired the property in a 1031-exchange transaction.

December 4, 2023

California Investment sales Net lease News

Progressive Brokers $4.9 Million Sale of Single-Tenant Property in Southern California

by Hayden Spiess November 30, 2023

Rancho Cucamonga, Calif. — Progressive Real Estate Partners has brokered the $4.9 million sale of a 16,560-square-foot single-tenant property located in Rancho Cucamonga. Dollar Tree occupies the building on a triple-net-lease basis. Brad Umansky, Greg Bedell and Lance Mordachini of Progressive arranged the sale on behalf of the seller, Red Mountain Group. Katherine Quach and Wendy Wong of Treelane Realty Group represented the buyer, a private investor.

November 30, 2023

California Investment sales Net lease News Restaurants

JLL Capital Markets Negotiates $3.3 Million Sale of Single-Tenant Restaurant Property Metro San Francisco

by Hayden Spiess November 16, 2023

San Rafael, Calif. — JLL Capital Markets has negotiated the $3.3 million sale of a single-tenant building located in San Rafael, roughly 20 miles outside San Francisco. El Pollo Loco, a fast-casual restaurant chain, occupies the 2,626-square-foot building on a triple-net-lease basis, with 13 years remaining on the lease. Eric Kathrein and Warren McClean of JLL brokered the transaction. El Pollo Loco occupies the building in San Rafael, California.

November 16, 2023

10582-Foothill-Blvd_Rancho-Cucamonga-Calif

California Investment sales Net lease News

Progressive Brokers $7.5 Million Sale of Retail Building in Southern California

by Hayden Spiess November 1, 2023

Rancho Cucamonga, Calif. — Progressive Real Estate Partners has brokered the $7.5 million sale of a nine-tenant retail building located in Rancho Cucamonga. Situated within Terra Vista Town Center, the 21,918-square-foot property was fully leased at the time of sale. Tenants at the building, which have all signed triple-net leases, include a jeweler, escape room and indoor playground. Greg Bedell and Paul Su of Progressive represented the seller in the transaction.

November 1, 2023

Investment sales Net lease News South Carolina

Marcus & Millichap Brokers $6.3 Million Sale of Single-Tenant Property in Rock Hill, South Carolina

by Hayden Spiess October 31, 2023

Rock Hill, S.C. — Marcus & Millichap has brokered the $6.3 million sale of a single-tenant property located in Rock Hill. Walgreens occupies the 14,550-square-foot building on a triple-net-lease basis. Andrew Margulies, Harrison Creason and John Berger of Marcus & Millichap secured the buyer, and Dean Giannakopoulos of Marcus & Millichap Capital Corp. arranged acquisition financing. Zosime was the seller.

October 31, 2023

California Investment sales Net lease News

Hanley Arranges $3.7 Million Sale of Car Wash Property in Valencia, California

by Hayden Spiess October 30, 2023

Valencia, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $3.7 million sale of a car wash property currently underway in Valencia. The building, which is scheduled for completion in the first quarter of 2024, will total 4,263 square feet. BLISS Car Wash will occupy the property on a triple-net-lease basis.Bill Asher and Jeff Lefko of Hanley represented the developer and seller, Fountainhead Development, in the transaction. Jenny Eng of CBRE represented the undisclosed buyer.

October 30, 2023

Company news Entertainment Investment sales Net lease New York News

VICI Acquires 38 Bowling Entertainment Centers for $432.9 Million

by Hayden Spiess October 20, 2023

New York City — VICI Properties Inc. has acquired 38 bowling entertainment centers from Bowlero Corp. in a sale-leaseback transaction for a total $432.9 million. Bowlero will now occupy the properties, which are located in 17 states, on a triple-net-lease basis. Initial annual rent for the lease will total $31.6 million. The deal also included an eight-year right of first offer term for VICI to purchase Bowlero real estate. J.P. Morgan acted as financial advisor to VICI in the transaction, and Hogan Lovells US LLP and Kramer Levin Naftalis & Frankel …

October 20, 2023

Investment sales Minnesota Net lease News

Cleeman Realty Group Brokers $5.1 Million Sale of Single-Tenant Property in Fairmont, Minnesota

by Hayden Spiess October 20, 2023

Fairmont, Minn. — Cleeman Realty Group has brokered the $5.1 million sale of a single-tenant property located in Fairmont. Hy-Vee occupies the 54,740-square-foot building on a triple-net-lease basis. Jeremy Scheer of Cleeman represented the undisclosed buyer in the transaction.

October 20, 2023

Content Partners Development Features Industry Content Investment sales Net lease Retailers

Sound Retail Fundamentals Continue to Drive Investor Interest

by Sarah Daniels October 17, 2023

The three managing principals at Irvine, Calif.-based Faris Lee Investments — Shaun Riley, Jeff Conover and Don MacLellan — see retail as the best investment class today. The reason? Strong fundamentals across the board, including low vacancy rates, minimal new construction and strong tenant sales. The trio live in the same world as the rest of us, where interest rates and economic uncertainty have deterred many, but to them, the fact remains that retail has never been stronger as an asset class. “People say it’s a bad market. It’s not …

October 17, 2023

Starbucks signed a 10-year net lease at the freestanding property in Byron, Ga.

Development Georgia Net lease News

Halpern Enterprises Completes Development of 2,600-Square-Foot Retail Property in Georgia

by Hayden Spiess October 5, 2023

Byron, Ga. — Halpern Enterprises Inc. has completed the development of a 2,600-square-foot build-to-suit property in Byron. Starbucks Coffee will occupy the freestanding building on a 10-year net lease. Brad Oppenheimer, Caleb Adams and Cary Halpern of Halpern Enterprises led the project.

October 5, 2023

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