SRS Real Estate Partners has completed the $4.57 million sale of a newly developed property occupied by Chipotle.
SRS Capital Markets Executive Vice President & Market Leader Patrick Nutt and Senior Vice President William Wamble who are based in Fort Lauderdale and Tampa, represented the seller, a Florida-based partnership. The buyer, a New York-based private investor, was in a 1031 exchange.
“Net leased properties in Florida continue to outperform overall,” said Wamble. “For Chipotle-occupied assets specifically, closing cap rates are typically 50 basis points lower on average as compared to other states this year.”
For the full story, click here.