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SRS Real Estate Partners’ National Net Lease Group Completes $8.125 Million Sale of Two Retail Properties in Brandon, FL
SRS Real Estate Partners’ National Net Lease Group completed the $8.125 million portfolio sale of two freestanding single-tenant retail properties occupied by Panera Bread and Chipotle. They are outparcels to Lake Brandon Plaza, a Publix-anchored shopping center at 11201-11255 Causeway Boulevard.
Chipotle totals 2,432 square feet and Panera totals 4,022 square feet. Both were completed in 2023 and have 15-year, absolute triple net leases in place.
SRS NNLG’s Executive Vice President Patrick Nutt and Vice President William Wamble represented the seller, a Florida-based private investor. The buyer was a New York-based private investor. The closing blended cap rate was 4.34 percent.
“We were happy to complete this transaction on behalf of the seller at a favorable cap rate in today’s environment, said Nutt. “We sourced an all-cash New York-based buyer who was in a large 1031 exchange and was looking for top-tier retail tenants on long-term leases.”
- ◦Sale/Acquisition

