Newport Beach, CA (March 27, 2020) – SRS Real Estate Partners’ National Net Lease Group has completed the $5.1 million ground lease sale (land ownership) of a newly constructed, single-tenant, freestanding retail property occupied by Chase Bank at 545 N. Euclid Street just two miles from Disneyland in Anaheim, CA. The 3,988-square-foot property opened earlier this year and has a corporate-guaranteed, triple net, 20-year lease in place.
Pat Kent, Patrick Luther, Matthew Mousavi and Parker Walter with SRS’ National Net Lease Group represented the seller, SunCoast Properties, Inc. Hanley Investment Group’s Bill Asher and Jeff Lefko represented the buyer, a Los Angeles-based private investor.
“This rare opportunity was ideal for an investor looking for a prime, densely populated, new construction investment property located in Orange County,” said Pat Kent, a senior vice president with SRS. “This newly constructed single-tenant asset with a long-term lease garnered a huge amount of interest with over 10 qualified offers.”
Roberto Brutocao, CEO of SunCoast Properties, commented, “We want to recognize and thank the SRS team led Pat Kent. They provided spot on pricing analysis, prepared excellent marketing materials and did a remarkable job steering this transaction to a successful closing!”
The property is a new prototype building for Chase and includes a drive-thru ATM. Chase was formerly located across the parking lot from an older format building at the corner of Euclid Street and Crescent Avenue. The site is directly across from Anaheim Plaza, a 348,000-square-foot shopping center that includes Walmart Supercenter. Other nearby tenants include Target, TJ Maxx, Smart & Final, ALDI, and Party City, among others.
SRS’ National Net Lease Group, with more than $1.5 billion in assets currently listed for sale, successfully completed more than 400 transactions in 2019, across 35 states nationwide.
About SRS Real Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 25 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services, and investment services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit srsre.com.
SRS’ 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 2019, the group completed more than 400 sales across more than 35 states and has over 50 NNLG 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.
About SunCoast Properties
SunCoast Properties, Inc., is a California based real estate investment and management company specializing in private equity placement. SunCoast acquires real estate investments and manages them through successful outcomes for a network of sophisticated investors seeking attractive ongoing cash flow. For more information, visit www.SunCoastManagement.com.