SRS Real Estate Partners announced today it has completed the $3.55 million ground lease (land ownership) sale of a Chick-fil-A property located at 9925 US-441 in Leesburg, FL. Built in 2024 and situated on 1.72 acres, 4,935-square-foot property has a corporate-guaranteed, absolute triple net ground lease in place with 13 years remaining.
SRS Capital Markets Senior Managing Principal Patrick Nutt and Executive Vice President & Principal William Wamble represented the seller, a national investor and developer. The buyer was a Brooklyn, NY-based private investor who was in a 1031 exchange. The closing cap rate was 4.46%.
“This property is a passive investment for the new ownership and is well-located in a densely populated and growing area of the greater Orlando region,” said Wamble. “We received favorable investor interest and several offers on this high-profile opportunity and believe the property is poised to perform well over the coming years.”
The asset is located near the intersection of U.S. Highway 441 and Radio Road and is near Lake Square Mall, a 728,000-sf regional mall as well as other national retailers including Home Depot, Publix, Starbucks, and Dollar Tree, among others.
Last year, SRS Capital Markets completed more than $3.5 billion in deal volume comprised of 950 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 celebrating 40 years of going the extra mile for its clients. Building on its retail foundation, SRS provides commercial real estate solutions across retail, industrial, and capital markets. Headquartered in Dallas with 30 offices nationwide, the firm measures its success by the achievement of its clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.