Fort Lauderdale, FL (November 18, 2019) – SRS Real Estate Partners National Net Lease Group has completed the $5.75 million sale of Shops at Stratford, a 13,500-square-foot multi-tenant retail center located at 1602 S. Stratford Road in Winston-Salem, NC.
SRS National Net Lease Group’s Executive Vice President Patrick Nutt and Associate Connor Barton represented the seller, a regional retail development group. The buyer was a local, private investor who was in a 1031 exchange, and was represented by Steen Spove of Deep River Partners.
Built in 2018, the property, which includes a prominent monument sign, is situated on 1.15 acres. It is fully occupied by four tenants including First Watch and Mattress Warehouse.
“The development featured a unique construction process with structured parking under the rear of the building, affording a parking ratio rarely found in similar retail developments, and providing flexibility for future tenancy. All the tenants at this center are operating on corporate-guaranteed leases,” said Nutt.
The Shops at Stratford is well positioned directly along S. Stratford Road and is less than one-mile from off/onramps to Interstate 40. The asset is within a primary retail corridor and shopping destination servicing the city of Winston-Salem. It is directly across the street from the Hanes Mall which is anchored by Macy’s, Dillard’s, JCPenney, and Belk. In addition, nearby national/credit tenants include The Home Depot, Costco Wholesale, Sam’s Club, Target, Lowe’s Home Improvement, and Walmart Neighborhood Market, among others.
SRS’ National Net Lease Group has successfully completed more than 300 sales in 2018, across 35 states nationwide, and has over $1.5 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.