Fort Lauderdale, FL (March 11, 2024) – SRS Real Estate Partners announced today it has completed the $3.65 million ground lease sale of a new construction single-tenant property occupied by Wawa. The property is located at 8300 SW 100th Street in Ocala, FL.
SRS Capital Markets 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, a Florida-based development group. The Arizona-based private buyer was in a 1031 exchange.
“Our team has sold more than 100 Wawa properties over the past five years – many of which were new construction like this asset,” said Nutt. “Wawa remains the best-in-class operator in the C-store space and has a growing customer base year-after-year. Investors aggressively seek net-leased investments occupied by Wawa based upon their affinity for the brand, their long-term, passive lease structure and sterling credit profile.”
Situated on 2.25 acres, the 6,119-square-foot property has a 20-year corporate-guaranteed ground lease in place. The strategic, highly visible location is just off State Highway 200 with direct access to Interstate 75. On Top of the World Communities, a retirement community with more than 8,700 residential units is directly across from the site.
In 2023, SRS Capital Markets completed approximately $2 billion in deal volume comprised of 495 transactions in 43 states. SRS currently has in excess of 600 properties actively on the market with a market value surpassing $2.85 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 28 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.