Tampa, Fla. (December 16, 2020) – SRS Real Estate Partners’ National Net Lease Group has announced the $4.2 million ground lease (land ownership) acquisition of a newly developed freestanding retail property occupied by Wawa at 4700 Goldenrod Road in Orlando, FL.
SRS National Net Lease Group’s Executive Vice President Patrick Nutt and Associate Connor Barton, represented the buyer, a New York-based private investor. The seller was represented by Mark Thompson and Eric Parrs of STNL.
Built in 2012 and situated on just under 1.9 acres, the property includes a 5,615-square-foot convenience store as well as eight fueling stations. Wawa has 12 years remaining on its corporate guaranteed, triple net ground lease. The property is well located across the street from one of Florida’s busiest Walmart stores, is near two elementary schools, and is surrounded by residential and retail developments.
“One of the main reasons we identified this asset on our buyer client’s behalf was because of the structure of the lease and ease of management,” said Barton. “Our client will be able to achieve a desired rate of return with minimal risk and minimal landlord responsibilities, which was key given they are an out of state investor.”
SRS’ National Net Lease Group has continued its explosive growth in the past year, and plans to continue expansion of its 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 330 sales to date in 2020 valued at more than $1.35 billion. Of those transactions SRS’ National Net Lease Group (NNLG) has closed 250 transactions since the COVID-19 crisis began. These transactions alone are valued at more than $1 billion. Additionally, the group has more than 500 individual assets under LOI or in escrow and $1.8 billion in assets currently listed for sale. The National Net Lease Group has more than 50 net lease professionals nationwide, all collaborating on one central platform, with leadership, underwriting, and marketing efforts strategically located in Southern California.
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.