Tampa, FL (December 12, 2022) – SRS Real Estate Partners’ National Net Lease Group (NNLG) announced today it has completed the $3.844 million sale of a 2,500-square-foot single-tenant retail property occupied by Starbucks with a drive-thru. Situated on a 1.02-acre site at 4418 W. Gandy Boulevard in Tampa, FL, the property was recently developed and Starbucks signed a corporate-guaranteed 10-year lease.
SRS NNLG’s Executive Vice President Patrick Nutt, Vice President William Wamble and Associate Daniel Becker represented the seller, Alliant Partners, LLC. The buyer was a South Florida-based private investor who was in a 1031 exchange and paid all cash for the asset. The closing cap rate was 4.5%.
“The buyer was drawn to this property’s infill location, high quality new construction and its Tampa address, which is one of the nation’s top markets for growth,” said Wamble.
The asset is near Westshore Marina District, one of the area’s most transformative mixed-use projects. More than 127,000 residents and 109,000 employees are within a five-mile radius of the property. The affluent South Tampa trade area also provides high barriers to entry for new commercial development.
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 684 properties sold year-to-date valued in excess of $2.6 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.