SRS Brokers $23.8 Million Portfolio Sale of Three Single-Tenant Retail Properties Under Construction in Suburban Miami

Homestead, Fla. — SRS Real Estate Partners’ National Net Lease Group has brokered the $23.8 million sale of three ground-leased, single-tenant retail properties located in the Miami suburb of Homestead. The properties are under construction and have been pre-leased by Target, Raising Cane’s and Murphy Oil. Target will open in late 2022, Raising Cane’s will open this month and Murphy Oil will open in the fall. Patrick Nutt and William Wamble of SRS represented the seller, an entity doing business as Homestead Pavilion LLC, in the transaction. The buyer was an entity doing business as Wells Acquisition LLC. The buildings, which will span 78,436 square feet on 8.6 acres, will serve as outparcels to Homestead Pavilion, a 450,000-square-foot shopping center leased to Kohl’s, Ross Dress for Less, Bed Bath and Beyond and T.J. Maxx.