SRS Real Estate Partners has completed the $10.4 million sale of a 72,525-square-foot single-tenant retail property occupied by Academy Sports, a sporting goods retailer with more than 300 stores across 21 states and counting. Situated on 7.69 acres, the property was built in 2018 and is located at 210 E. Bert Kouns Industrial Loop in Shreveport, LA. Academy Sports has an absolute triple net, corporate-guaranteed lease in place with approximately 13 years remaining.
SRS Capital Markets Vice President Michael Berk, Senior Managing Principal Patrick Nutt and Managing Principal & Market Leader Chip Watson represented the seller, a private investor. The buyer was a publicly traded REIT.
“Academy Sports is well-located in a dense retail corridor with a number of nearby national tenants, including Walmart and Home Depot, among others. The strong tenant synergy significantly increases consumer draw to the immediate area and promotes crossover store exposure. SRS is pleased to execute the sale on behalf of the seller, and the buyer will benefit from a truly passive investment with no landlord responsibilities,” said Berk.
SRS Capital Markets has completed more than $1.7 billion in deal volume this year, comprised of more than 500 transactions across the nation. SRS currently has in excess of 845 properties actively on the market with a market value surpassing $3.7 billion.
About SRS Real Estate Partners
Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with 29 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.