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SRS Brokers $21M Sale of Napa Auto Parts Retail Portfolio

SRS Brokers $21M Sale of Retail Portfolio

Newport Beach-based SRS Real Estate Partners’ National Net Lease Group (NNLG) has completed the $21 million sale of 12 Napa Auto Parts retail assets across 10 states, including Florida, Ohio and Georgia. The square footage of all properties totals 83,000 for a per square foot sale price of approximately $250.

All the locations have been operating since 2007 and are subject to a long-term, absolute net lease master lease signed by Genuine Parts Auto Company, the parent company of Napa Auto Parts. 

“It was the right time for the seller to exit this portfolio based on the decrease in cost to prepay the existing loan along with the long-term investment strategy. The buyer liked the strong credit of the tenant and the residual value relative to the allocated basis to each site,” said John Redfield of SRS NNLG who led the transaction on behalf of the seller as well as the buyer.


Inside The Story

SRS NNRGJohn Redfield

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

  • ◦Sale/Acquisition
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