SRS Real Estate Partners announced today it has completed the $2.12 million sale of a 9,002-square-foot Dollar General property. Situated on 2.24 acres and built in 2016, the property is located at 6733 SW Archer Road in Gainesville, FL.
SRS Capital Markets Senior Associate Jaime Salazar, Executive Vice President & Market Leader Patrick Nutt, and Senior Vice President William Wamble who are based in Fort Lauderdale and Tampa, FL represented the seller, Meridian Real Estate LLC. The buyer was SNP Partners LLC. The cap rate was 6.27%.
“We worked with both the seller and the buyer on an all-cash transaction to close this Dollar General asset. Our team generated multiple offers within the two weeks of our marketing campaign and closed at 96% of our list price. We continue to see strong buyer activity for well-located net lease investments throughout the Sunbelt markets,” said Salazar.
The property is within a dense retail corridor and is just four miles from University of Florida. There are more than 105,00 residents and 48,000 employees within a five-mile radius.
Year to date, SRS Capital Markets has completed approximately $731 million in deal volume comprised of 182 transactions in 34 states. SRS currently has in excess of 698 properties actively on the market with a market value surpassing $3.7 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 29 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.