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Texas  + Austin  + Retail  | 

SRS’ National Net Lease Group Brokers $5.98 Million Sale of a Retail Property Occupied by Kohl’s and Crunch Fitness in Midland, TX

SRS Real Estate Partners’ National Net Lease Group announced it has completed the $5.98 million sale of a two-tenant retail property located at 3200 N Loop 250 W in Midland, TX. The fully occupied asset includes national credit retailers, Kohl’s and Crunch Fitness who are on long-term triple net leases.

 SRS NNLG’s Vice Presidents Britt Raymond and Kyle Fant represented the seller, a Texas-based developer. The buyer, a California-based private investor, was represented by Jake Bordelon of Marcus & Millichap. The closing cap rate was 6.6%.

 Built in 2005, the 94,579-square-foot property is situated on 8.4 acres. The asset is within a 250,000-sf shopping center that includes Ashley HomeStore, Cracker Barrel, Sherwin Williams, and Jack in the Box.

In 2021, SRS’ Investment Properties Group and National Net Lease Group (NNLG) completed more than $3.1 billion in deal volume comprised of 899 transactions in 49 states, and currently has more than $2 billion in property on the market.

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SRS National Net Lease Group

About Erik Hamilton

Erik Hamilton, who has more than 15 years in CRE journalism, is a former staff writer with the Los Angeles Times and the Orange County Business Journal. In addition to The Times and the OCBJ, he was also a reporter and editor for Crittenden Research, The San Bernardino Sun and UPI. Erik also worked six years in CRE public relations with Los Angeles-based Hoyt Organization, where he was a Senior Account Executive. He later joined Lee & Associates where he served as the Director of Corporate Communications. There ,in addition to his work with Lee’s CEO, he managed 57 offices nationwide and provided PR, social media and media training for the offices. A graduate of UC Irvine, with a BA in history, he is an avid record collector where he continues to search for a rare Joy Division single.

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