DALLAS (October 21, 2021) – SRS Real Estate Partners’ National Net Lease Group has expanded their presence with a new office opening in New Orleans, La. Sabrina Kortlandt, first vice president, transitioned from New York City to New Orleans to open the office for the National Net Lease Group. Kortlandt was recently selected for Connect CRE’s 2021 Women in Real Estate for Florida and the Gulf Coast.
Kortlandt noted, “Louisiana is a state that is often overlooked on a national scale, but with the opening of our new SRS office in New Orleans, we are excited to grow our presence in this market and bring these quality opportunities to investors across the nation.”
Making a significant first impression in the market, the NNLG team completed a record-breaking $2.575 million ground lease (land ownership) sale of a 4,268-square-foot retail property occupied by McDonald’s last month. McDonald’s is anticipated to open its doors for business later this month. The newly executed, corporate-guaranteed lease has a 20-year term. The transaction broke a sales record, selling at a cap rate of 3.49 percent and marking the lowest cap rate for a single-tenant retail property in Louisiana to ever trade according to CoStar records.
Matthew Mousavi, Patrick Luther and Sabrina Kortlandt of SRS’ National Net Lease Group represented the seller, a Baton Rouge-based private investor, who had owned the land for more than 60 years. The buyer, a private family trust from California, was represented by Jeff Li of Colliers.
Year-to-date, SRS’ National Net Lease Group has completed more than 400 transactions valued in excess of $1.3 billion and has in excess of $1.8 billion in property on the market.
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 2020, the group completed more than 550 sales across more than 35 states and has over 50 net lease 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.