Newport Beach, Calif. (October 7, 2020) – SRS Real Estate Partners’ National Net Lease Group has announced the approximately $6.3 million acquisition of a single-tenant property occupied by Walgreens at 310 Meadowbrook Road in Jackson, MS.
SRS National Net Lease Group’s Managing Principals Matthew Mousavi and Patrick Luther and Senior Associate Parker Walter represented the buyer, a Northeast-based family office who paid all-cash and was in a 1031 exchange. The seller/developer was represented by Mark Ruble of Marcus & Millichap.
Built in 2015 and situated on 1.68 acres, the 14,550-square-foot property is absolute triple net leased to Walgreens Corporation and has 15 years remaining on its lease term. The asset is surrounded by major national retailers including Burger King, Dollar Tree, and Family Dollar, among others. Additionally, it is just minutes from downtown Jackson.
“As the majority of investors in today’s environment are seeking essential-use, strong credit, long-term net-leased investment opportunities, we identified this property as a perfect fit for our client which ultimately met and exceeded their investment goals,” said Walter.
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 223 transactions since the COVID-19 crisis began. These transactions alone are valued at more than $965 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.