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Net-Leased Kroger Property Sells to Private Equity Firm
CrownPoint Partners, a national real estate brokerage and advisory firm specializing in the sale of net lease investments and sale-leaseback advisory services, arranged the $3.6-million sale of a net-leased Kroger property in Laurel, MS. Managing partners and co-founders Julius Swolsky and Shannon Bona, represented the buyer, a subsidiary of private equity firm Essential Growth Properties. Marcus & Millichap represented the seller, Pacific Bay Investments, Inc. of San Francisco.
The 44,046-square-foot Kroger store at 2340 Hwy. 15 N. sits on a 4.2-acre parcel, which includes a Kroger Fuel Center. Kroger has operated at this location since 1982.
“Kroger is an investment-grade tenant that dominates the grocery sector and ranks among the largest retail companies in the United States,” said Swolsky. “This transaction illustrates the flight to tenant quality, even in tertiary markets.”
The buyer, a repeat client of CrownPoint Partners, secured financing through Trinity Capital Corp, with Niko Buntich assisting in debt placement.
- ◦Sale/Acquisition
