Tampa, FL (November 17, 2022) – SRS Real Estate Partners’ National Net Lease Group (NNLG) announced today it has completed the $2.8 million sale of a 4,000-square-foot (sf) single-tenant property occupied by Banfield Pet Hospital. With development completed this year, the property is situated on 1.4 acres at 12815 Bayou Branch Avenue in Tampa, FL.
SRS NNLG’s Executive Vice President Patrick Nutt, Vice President William Wamble, and Associate Daniel Becker represented the seller, Tampa-based Soho Capital. The buyer was a Florida-based private investor who was in a 1031 exchange. The closing cap rate was 5%.
“This asset provides the buyer with a 10-year lease with Banfield, the largest privately owned veterinary hospital in the nation with more than 1,000 locations,” said Nutt. “That, along with the newly delivered property being in an ideal, growing market with minimal landlord responsibilities were attractive selling points.”
The property is located directly across the street from North Bay Shopping Center, a 270,000-sf property anchored by Publix and Lowe’s Home Improvement. It is also near a number of other national retail brands and several residential communities including The Sedona, The Preserve, and Veranda at West Chase, among others.
In 2021, SRS’ Investment Properties Group (IPG) and National Net Lease Group (NNLG) completed more than $3.1 billion in deal volume comprised of 899 transactions in 49 states. SRS and currently has more than $2.5 billion in property on the market, with more than 630 properties sold year-to-date valued in excess of $2.4 billion.
About SRS Real Estate Partners
Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with more than 25 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.
SRS’ Investment Properties Group (IPG) & 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 2021, the group completed more than 899 sales across more than 49 states and has over 160 brokerage 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.