Tampa, FL (August 27, 2019) – SRS Real Estate Partners’ Investment Properties Group has completed the approximately $3.7 million sale of a three-tenant, 8,650-square-foot property fully occupied by Mattress One, First Watch, and Tijuana Flats at 12320 to 12332 Cortez Blvd. in Brooksville, FL.
SRS’ National Investment Properties Executive Vice President Patrick Nutt and Connor Barton represented the seller, a Florida-based retail developer. The buyer, a Florida-based multi-tenant retail property investor, was represented by Saunders Ralston Dantzler Real Estate – SVN.
“The buyer purchased the asset with debt, acquiring a 10-year loan amortized over 25 years,” said Barton. “With rates dropping in recent months, buyers have been increasingly seeking out these neighborhood multi-tenant centers.”
Built in 2017, the property is situated on nearly 1.5 acres. It is located within a larger retail center and is surrounded by a densely populated area with more than 80,000 people within a five-mile radius.
This sale marks the final parcel of a larger development led by SRS’ Patrick Nutt on behalf of the seller. The other three single-tenant properties include a Chase Bank, Longhorn Steakhouse, and Cheddar’s.
SRS’ Investment Properties Group and National Net Lease Group successfully completed more than 300 sales in 2018, across 35 states nationwide, and has over $1 billion in assets currently listed for sale.
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 2018, the group completed more than 300 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.