Troy, MI (June 12, 2023) – SRS Real Estate Partners’ National Net Lease Group (NNLG) announced today it has completed the $10.65 million sale of a newly developed, 15,500-square-foot (sf) medical property fully leased to Optima Dermatology. Located at 8183 Golden Link Boulevard in Macedonia, OH, the property has a 15-year, absolute triple-net lease in place.
SRS NNLG’s Vice Presidents Michael Carter and Frank Rogers and Greg Guyuron, an Executive Vice President with Anchor Cleveland, represented the seller, a private developer. The buyer was a New Jersey-based private investor, in a 1031 exchange. The closing cap rate was 6.5%.
“The property was completed this year and is a state-of-the-art surgery and research center featuring a long-term lease,” said Carter. “Additionally, the asset offers the new ownership zero landlord responsibilities and is well-located within an area that provides a direct consumer base for the user.”
The property is within The Crossings at Golden Link, a more than 400,000-sf power center anchored by Lowe’s Home Improvement. It is also directly across from Macedonia Commons, a 612,000-sf power center anchored by Walmart Supercenter, The Home Depot and Kohl’s. Optima Dermatology is situated along State Highway 8 with clear visibility and access to the average 48,800 vehicles passing by daily.
In 2022, SRS’ Investment Properties Group (IPG) and National Net Lease Group (NNLG) completed more than $2.9 billion in deal volume comprised of 760 transactions in 48 states. SRS currently has in excess of 445 properties actively on the market with a market value surpassing $2.2 billion.
About SRS Real Estate Partners
Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with more than 25 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.
SRS’ Investment Properties Group (IPG) & National Net Lease Group (NNLG) is a unified platform of seasoned net lease professionals located and transacting nationally with all underwriting and marketing efforts strategically located in Southern California. In 2022, the group completed more than 760 sales across 48 states and has over 160 brokerage professionals nationally. From proactive sales to targeted acquisitions and tailored debt and equity solutions, SRS’ National Net Lease Group offers comprehensive services to net lease owners and investors. Superior speed-to-market, world-class marketing materials, a deep investor database and unparalleled retail submarket intelligence from the entire SRS platform allow SRS’ National Net Lease Group to deliver the best possible returns. For more information, please visit srsre.com/national-net-lease-group.