Atlanta, Ga. (October 2, 2020) – SRS Real Estate Partners’ National Net Lease Group has announced the $2.25 million sale of a single-tenant property occupied by McDonald’s at 1175 Bankhead Highway in Carrollton, GA.
SRS National Net Lease Group’s First Vice President Sheree Strome and Senior Associate Michael Berk represented the seller, a Virginia-based private investor who was in a 1031 exchange. The buyer, a private investor from California who was in a 1031 exchange, was represented by Matthews REIS. The closing cap rate was 4.04 percent.
“With just six years remaining on the lease, SRS achieved one of the lowest cap rates nationally for a McDonald’s-occupied asset with a similar lease term,” said Berk. “With this sale, we were able to complete an upleg to our client’s 1031 exchange with the $2.775 million acquisition of a Chick-Fil-A-leased property in Wisconsin which provided them with longer-term stability and cash flow.”
Built in 2006 and situated on 1.31 acres of land, the highly visible, 5,577-square-foot property is located at a signalized intersection and includes a double drive-thru. There are more than 45,500 residents and 27,000 employees within a five-mile radius of the property.
SRS’ National Net Lease Group has continued its explosive growth in the past year, and plans to continue expansion of their teams across the country throughout the remainder of 2020. SRS’ National Net Lease Group and the western region of SRS’ Investment Properties Group successfully completed more than 300 sales to date in 2020. Of those transactions SRS’ National Net Lease Group (NNLG) has closed 220 transactions since the COVID-19 crisis began. These transactions alone are valued at more than $926 million. Additionally, the group has more than 500 individual assets under LOI or in escrow and $1.8 billion in assets currently listed for sale.
About SRS Real Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 25 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services, and investment services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit srsre.com.
SRS’ National Net Lease Group (NNLG) is a unified platform of seasoned net lease professionals located and transacting nationally with all underwriting and marketing efforts strategically located in Southern California. In 2019, the group completed more than 400 sales across more than 35 states and has over 50 NNLG professionals nationally. From proactive sales to targeted acquisitions and tailored debt and equity solutions, SRS’ National Net Lease Group offers comprehensive services to net lease owners and investors. Superior speed-to-market, world-class marketing materials, a deep investor database and unparalleled retail submarket intelligence from the entire SRS platform allow SRS’ National Net Lease Group to deliver the best possible returns. For more information, please visit srsre.com/national-net-lease-group.