Bradenton, FL (August 22, 2019) – SRS Real Estate Partners’ National Net Lease Group has completed the $5.5 million sale of a single-tenant 4,350-square-foot freestanding property fully occupied by 7-Eleven located at 7305 State Road 70 E. in Bradenton, FL. The property recently underwent a complete renovation for a new 7-Eleven location and features a 15-year triple-net lease with options to extend.
SRS’ National Net Lease Group Executive Vice President Patrick Nutt and First Vice President William Wamble represented the seller, a Florida-based developer of retail properties. The buyer was affiliated with Bayrock Investment Company out of Charlotte, NC.
“Newly developed, single-tenant assets with long-term absolute triple-net leases in Florida are in high demand from investors for a plethora of reasons, but the tax advantages of accelerated depreciation from acquiring a C-Store with gas pumps make it all the more appealing.,” said Nutt. “We identified an ideal out-of-state buyer seeking to grow his portfolio here.”
Situated on 1.4 acres, the property is well located at the highly trafficked intersection of 73rd Lane E. and E. State Road 70. It is located at the only main entrance of Creekwood Crossing, a 417,000-square-foot power center with tenants including Lowe’s Home Improvement, Big Lots, Dollar Tree, Chick-Fil-A and Starbucks, among others.
SRS’ 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 www.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 srsnnlg.com.