SRS Real Estate Partners announced today the $7.68 million ground lease (land ownership) sale of a 128,517-square-foot property occupied by The Home Depot. Built in 2004 and situated on 10.42 acres, the asset is located at 3489 Ross Clark Circle in Dothan, AL.
SRS Capital Markets Senior Managing Principals Patrick Luther and Matthew Mousavi represented the seller, a Texas-based partnership. The buyer was an East Coast-based private investor.
“Home Depot is an investment-grade brand that is highly sought after by single-tenant retail investors,” said Luther. “The closest Home Depot location is 70 miles away from this asset, making the opportunity even more attractive to potential buyers and garnering a number of offers. Ultimately, the buyer plans a long-term hold, enjoying zero landlord responsibilities.”
The asset is part of Northside Mall which is anchored by Publix and Hobby Lobby and is within a primary retail corridor in a densely populated area.
In 2024, the SRS Capital Markets group completed approximately $2.5 billion in deal volume comprised of more than 600 transactions in 45 states. SRS currently has in excess of 740 properties actively on the market with a market value surpassing $3.5 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.