Newport Beach, Calif. (April 29, 2022) – SRS Real Estate Partners’ Investment Properties Group (IPG) announced today it has completed the $10 million sale of a 53,872-square-foot retail center located at 790 SW 19th Street in Moore, OK.
Built in 2018, the property is situated on 5.52 acres of land and was 93% occupied at the closed of escrow with anchor tenants ULTA Beauty and Burlington who are both on long-term leases.
“SRS secured multiple offers on this asset and secured the buyer, an institutional REIT,” said Tramontano. “This asset offers the new ownership a newly developed, turnkey asset with national credit tenants and ability to add value by leasing the remaining vacancy.”
The property is within a larger retail center that includes Target and Dick’s Sporting Goods and a Costco Wholesale is currently under construction directly behind the asset. It is also located on a major retail corridor and has more than 132,000 employees and 41,000 employees within a five-mile radius.
In 2021, SRS’ Investment Properties Group and National Net Lease Group (NNLG) completed more than $3.1 billion in deal volume comprised of 899 transactions in 49 states, and currently has more than $2 billion in property on the market, with nearly 200 properties sold year-to-date in 2022.
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 26 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’ Investment Properties Group (IPG) & 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 2021, the group completed more than 899 sales across more than 49 states and has over 160 brokerage 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.