Long Beach, Calif. — SRS Real Estate Partners’ National Net Lease Group has brokered the $4.3 million sale of a single-tenant property located in Long Beach. Vans occupies the 3,749-square-foot building, which was built in 1926, on a triple-net-lease basis. Chris Tramontano and John Redfield of SRS represented the seller. Nathan Holthouser of Coastal Commercial Inc. represented the buyer.
Albuquerque, N.M. — Hanley Investment Group Real Estate Advisors has arranged the sale of a 3,331-square-foot single-tenant retail property located in Albuquerque. Raising Cane’s Chicken Fingers occupies the building on a 15-year, triple-net lease. Bill Asher, Jeff Lefko and Jeremy McChesney of Hanley represented the seller and developer, TradeCor LLC, in the transaction, in association with ParaSell Inc. Greg Swedelson and Jon-Eric Greene of SSG Realty Partners represented the buyer, an undisclosed private investor.
Linden, N.J. — Pegasus Investments Real Estate Advisory Inc. and Pegasus Capital Markets Inc. have arranged the $55 million acquisition of a 186,000-square-foot single-tenant retail property located in Linden. Walmart Supercenter fully occupies the property, which is situated on 14 acres, with a 20-year triple net lease. Pegasus represented the buyer, a partnership of investors, in the transaction and secured acquisition financing. Mark Keener and Adam Block of Gallagher Evelius & Jones LLP served as counsel for the buyer. SRS National Net Lease Group represented the seller, a joint venture between …
Niagara Falls, N.Y. — JRW Realty has brokered the acquisition of a 102,062-square-foot single-tenant supermarket property located in Niagara Falls. Tops occupies the building on a net-lease basis. Melinda Marston of JRW represented the undisclosed buyer in the transaction. Chris Bosworth of CBRE represented the undisclosed seller.
Avon, Ind. — SRS Real Estate Partners has arranged the $2.6 million ground lease sale of a 7,000-square-foot restaurant property in Avon, about 13 miles west of Indianapolis. Bubba’s 33 occupies the newly constructed property on a 15-year triple-net lease that is corporate guaranteed by parent company Texas Roadhouse Inc. Founded in 2013, Bubba’s 33 is an expanding sister brand of Texas Roadhouse. Morgan Merrill and Sarah Shanks of SRS represented the seller, Texas Roadhouse Inc. A California-based private investor was the buyer.
Miami — Marcus & Millichap has brokered the $6.7 million sale of a freestanding, 13,650-square-foot property in Miami. Walgreens occupies the building on a 15-year triple-net lease. Built in 2004 and situated on 1.4 acres, the property is an outparcel to Kendall Pointe, a shopping center anchored by Aldi and PetSmart. Jonathan De La Rosa and Eduardo Toledo of Marcus & Millichap’s Miami office represented the buyer, a local private investment firm, in the transaction.
Inglewood, Calif. — SRS Real Estate Partners has arranged the $5.1 million sale of a single-tenant retail property located in Inglewood, roughly 12 miles outside Los Angeles. Starbucks Coffee occupies the 1,008-square-foot building, which was built in 2021 on 0.4 acres, on a net-lease basis. Brian Wolfman and Zach Leffers of SRS represented the seller, a Los Angeles-based private investor. David Oberg and Zach Ordin of DLO Realty Group represented the buyer, a Los Angeles-based family office.
Riverside, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $4.9 million sale of a four-tenant retail property located in Riverside. Built In 2020 and situated within Veteran’s Plaza, the 6,963-square-foot building is occupied by Starbucks Coffee, Express Gadget Repair, Desperate Measures and Jersey Mike’s Subs on a net-lease basis. Eric Wohl and CJ Kiehler of Hanley represented the seller, a California-based developer. Shirley Kim of Max Mega Group Realty represented the buyer, an international private investor.
Chicago — SRS Real Estate Partners has brokered the $3 million sale of a single-tenant retail property located in Chicago. Wendy’s occupies the 4,031-square-foot building, which was built in 1983 and renovated in 2022, on a net-lease basis. Sean Lutz and Dan Elliot of SRS represented the seller, a California-based private investor, in the transaction. Bruce Lee and Hope Kim of New Star Realty represented the buyer, also a California-based private investor.
Orlando, Fla. — Marcus & Millichap has arranged the $7.2 million sale of a single-tenant property located in Orlando. CVS/pharmacy occupies the 13,616-square-foot building on a net-lease basis. Ronnie Issenberg, Gabriel Britti and Ricardo Esteves of Marcus & Millichap represented the undisclosed seller in the transaction.
