A $33 million off-market portfolio sale reinforces the continued strength of the single-tenant net-lease market. The 10 single-tenant net-leased retail assets encompassed properties in eight states: Texas, Ohio, Indiana, Michigan, Tennessee, Florida, Georgia and Alabama.
Totaling 134,851 square feet, the assets include six CVS Pharmacy stores, one Walgreens and three Tractor Supply Company stores.
SRS national net lease group’s Dan Elliot, Patrick Luther and Matthew Mousavi represented the buyer, private investment group, L2 Partners LLC, as well as the seller, Orion Real Estate Group, a private investment firm.
“This was an all-cash, off-market transaction,” said Elliot. “Both parties worked to expedite the due diligence process and the closing occurred as scheduled. This portfolio represented the rare opportunity to acquire a group of quality, stable net-leased assets offering diversification via location, tenant and lease term. Ultimately, this deal reinforces the current strength of the single-tenant net-lease market and the demand for retail tenants that have not only survived, but thrived in the current environment.”
Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
Email the Author
Reach over 250,000 Commercial Real Estate Professionals with Connect
Connect CRE reaches the top commercial real estate players nationwide and across all property types, offering you a variety of ways to showcase your team, your expertise and your brand to CRE decision makers.
ConnectCRE.com
The home for CRE news and everything you need to stay informed on deals, trends, and transactions, providing a platform to get your brand in front of your target audience.
Daily CRE Emails
Reaching over 150,000 inboxes across the nation every day, Connect’s Daily News emails provide advertising opportunities specific to your market.
Bi-Weekly Property Sector Emails
Focus your advertising on emails dedicated to your property sector and stay visible to current and potential clients.
Content Marketing
Position your team as experts in your field with content created by Connect’s editorial team and published on Connect’s news emails. Showcase your intelligence and broaden your reach.
