SRS Real Estate Partners announced today it has completed the $6.55 million ground lease (land ownership) portfolio sale of two newly developed single-tenant retail properties including Dutch Bros and Fifth Third Bank. The adjacent properties are located at 18640 FL-54 and 18710 FL-54 in Lutz, FL respectively.
SRS Capital Markets Senior Managing Principal Patrick Nutt and Executive Vice President & Principal William Wamble represented the seller, an Atlanta-based development and investment group. The Tampa-based buyer was in a 1031 exchange.
“The buyer was attracted to the long-term ground leases with solid tenancy, quality new construction, and zero landlord responsibilities on these cash-flowing properties,” said Wamble. “Lutz is also a fast-growing city near the Tampa area that continues to attract retail, residents and capital investment.”
Following is information on each asset:
- Dutch Bros was built in 2025 and is situated on .84 acres. The 950-square-foot (sf) property has approximately 15 years remaining on its corporate-guaranteed absolute NNN lease.
- Fifth Third Bank was built in 2025 and is situated on .92 acres. The 1,900-sf property has approximately 20 years remaining on its corporate-guaranteed absolute NNN lease.
The assets are near other national retailers including McDonald’s, Outback Steakhouse, Walgreens, and Cava, among others. They are just 1.5 miles from Cypress Ranch, a 164-acre mixed-use development that is under construction. They are also next to Long Lake, a mixed-use center featuring 350 multifamily units and retail.
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. A leader in consumer-driven real estate, SRS provides commercial real estate solutions across retail, industrial, and capital markets. Headquartered in Dallas with 29 offices nationwide, the firm measures its success by the achievement of its clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.