Denver, Colo. (May 22, 2020) – SRS Real Estate Partners’ National Net Lease Group is pleased to announce the $4.021 million sale of a fully occupied, 8,000-square-foot, two-tenant retail property located at 4300 McCain Blvd. in North Little Rock, AR. The tenants, Vitamin Shoppe and Mattress Firm, both feature corporate-guaranteed triple net leases.
SRS National Net Lease Group’s First Vice President Brian Wolfman represented the seller, Los Angeles-based McCain Plaza, LLC. The 1031 exchange buyer, New Mexico-based G&T Investments, LLC, was represented by Aaron Hines of Marcus & Millichap. Tyler Johnson of Pegasus Capital Markets represented the buyer in sourcing the acquisition financing.
“Our deal team was able to navigate a complex transaction in the midst of the COVID-19 pandemic,” said Wolfman. “During the due diligence process I was able to secure favorable lease modifications which gave the buyer added confidence in the tenant’s long-term commitment to the site. The deal faced other headwinds, however, our ability to move quickly and adjust to the outside environment on the fly led to a successful closing on a strong piece of real estate in North Little Rock.”
The property is located at the intersection of McCain Blvd. and Springhill Drive which sees more than 55,000 vehicles per day. It is .3 miles from Highway 67 and .6 miles from Interstate 40. The asset is within a larger retail center that includes Lowe’s Home Improvement. Other nearby retailers include Walmart Supercenter, Target, Home Depot, and T.J. Maxx, among others.
SRS’ National Net Lease Group, with more than $1.5 billion in assets currently listed for sale, successfully completed more than 400 transactions in 2019, across 35 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’ 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.