SRS Arranges $4M Ground Lease Sale of Retail Property in Virginia

SRS Real Estate Partners’ National Net Lease Group has arranged the $3.9 million ground lease sale of a single-tenant retail property occupied by Sheetz at 1731 Roanoke Road in Daleville, VA. The absolute triple-net leased property is corporately guaranteed by Sheetz, a convenience store chain with approximately 600 store locations throughout Pennsylvania, West Virginia, Virginia, Maryland, Ohio and North Carolina.

Built in 2019, the nearly three-acre property includes a convenience store that features made-to-order food with a drive-thru, car wash, espresso bar and indoor and outdoor seating.

Andrew Fallon of SRS represented the developer-seller, North Carolina-based The Morgan Cos., in the transaction. The buyer was a Virginia-based group completing a 1031 exchange and was represented by Wilkinson Real Estate Group.