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Colliers Closes Nearly $14M Walmart NNN Deal in SC for Hutton Development
Colliers handled the $13,850,000 sale of a NNN deal in Sumter, SC for Hutton Development. The 13-year lease involves a Walmart property, which occupies 41,990 square feet at 343 Pinewood Rd.
The price and cap rate represent a 2020 record for this big box space, notes Colliers’ Eric Carlton. The Snyder-Carlton team brokered the all-cash deal under a short due diligence period.
Carlton says, “Given the current status of the world with the coronavirus epidemic, this single tenant Walmart grocery store reflected a flight to quality along with one of the only retail tenants who continue to thrive amongst the commercial turmoil and large-scale closures. As other segments of commercial retail start to grind to a halt, the NNN market with 1031 exchange buyers continues to maintain robust activity, as these buyers require a tax deferred investment vehicle,” Carlton concluded.
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- ◦Sale/Acquisition
- ◦Lease


