Chicago (May 12, 2021) – SRS Real Estate Partners’ National Net Lease Group has completed the $8.85 million sale of a 62,297-square-foot single-tenant retail property occupied by Winn Dixie. Situated on seven acres at 1830 W. Airline Highway in LaPlace, LA, the property features a long-term, absolute triple-net lease that is corporate guaranteed by Winn-Dixie Stores, Inc.
SRS’ National Net Lease Group’s Senior Vice Presidents Sean Lutz and Dan Elliot represented the seller, a private investor from Baton Rouge, LA. The buyer was a family office also from Baton Rouge.
“Grocery-occupied retail assets have experienced a much higher demand from investors since the onset of COVID,” said Lutz. “This property offers the buyer a stable grocery tenant with a new, 10-year lease extension. It was also attractive as Winn Dixie’s parent company, Southeastern Grocers, has been in talks to go public.”
The property is situated at the intersection of US Highway 61 and Belle Terre Boulevard which sees more than 56,000 vehicles per day. It also features a large pylon sign for excellent visibility and is nearby to other national tenants including Walmart Supercenter, The Home Depot, PetSmart, and Dollar General, among others.
Since the COVID-19 crisis began, SRS’ National Net Lease Group (NNLG) has closed nearly 600 transactions valued at over $2 billion. Additionally, the group has nearly $540 million of assets under LOI or in escrow and $1.5 billion in assets currently listed for sale. In 2020, the NNLG successfully completed more than 490 transactions, across 44 states nationwide.
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’ 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 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.