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Texas  + Retail  | 

Off-Market Portfolio Sale Reinforces Net Lease Market

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.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
  • ◦Lease