Leland, N.C. (October 1, 2021) – SRS Real Estate Partners’ National Net Lease Group has announced the $5.47 million sale of a single-tenant, freestanding Tractor Supply Company located at 1123 Clapboard Lane in Leland, NC. Tractor Supply Company is the largest rural lifestyle retailer in the U.S targeting the needs of recreational farmers and ranchers, among others.
SRS NNLG’s Patrick Nutt and William Wamble represented the seller, a Tennessee-based merchant developer, in the sale to a private investor.
“The fact that we went from list to close in less than 90 days demonstrates the demand for Tractor Supply Company-occupied investments” commented Patrick Nutt of SRS. “We received seven offers in just the first two weeks of marketing the property and ultimately closed this sale at the lowest cap rate for a Tractor Supply Company site in the Carolinas,” he continued.
Located on 3.5 acres, the Tractor Supply Company property is brand-new construction with a 15-year lease. The freestanding building is 19,097 square feet in size and is strategically located at the hard corner intersection of Knightbell Circle and Ocean Highway E. Nearby residential communities such as Ibis Landing Townhomes and Hawthorne Waterside Apartment Homes provide a strong consumer base for future sales.
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 srsnnlg.com.