Atlanta, Ga. (November 3, 2022) – SRS Real Estate Partners’ National Net Lease Group (NNLG) announced today it has completed the $8.2 million ground lease sale of an 8,000-square-foot property occupied by 7-Eleven. Built in 2022 and situated on 2.7 acres, the property is located at 22702 Gosnell Farm Drive in Clarksburg, MD and is at the entrance to Simon Properties-owned Clarksburg Premium Outlets. The property has a 20-year lease in place with a 7-Eleven franchisee.
SRS NNLG’s First Vice Presidents Michael Berk and Sheree Strome who are in the firm’s Atlanta office, represented the seller, an East Coast-based investor. The buyer, was a private investor from California.
“This asset garnered a number of offers and sold for $100,000 over the asking price,” said Berk. “This opportunity provides the new ownership with a newly developed property, no landlord responsibilities, a national tenant on a long-term lease, and surrounding new residential development with very high household incomes.”
The site is located in the Cabin Ranch community, a high-end 540-acre project that includes residential and retail. It is also directly off Interstate 270, a major north-south commuter thoroughfare that connects Clarksburg to the Washington DC area.
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.