San Diego, CA (November 20, 2023) – SRS Real Estate Partners has completed the $13.065 million sale-leaseback of a single-tenant, 33,764-square-foot building located at 160 N. Stephanie Street in Henderson, NV. Built in 2001, the property is undergoing renovations for Green Valley Grocery corporate headquarters. The first Green Valley Grocery opened in 1978 and has grown to 80 locations with projected growth to 100 locations by 2025.
The seller was represented by Chuck Klein of SRS Capital Markets. The buyer, a California-based private investor in a 1031 exchange, was represented by Brian Riffel of Colliers International.
“This property provides Green Valley Grocery with the functionality they had been seeking for their corporate headquarters in an ideal location. The long-term commitment from Green Valley Grocery provides the new ownership with the stability of a seasoned and successful tenant in the highly desirable city of Henderson,” said Klein. “The greater Las Vegas region continues to experience strong growth in all sectors and has become an increasingly targeted location for both investors and tenants.”
He added that the state of Nevada provides businesses with advantages that include zero personal and corporate income tax, low property taxes, and an overall low cost of doing business.
The property is within a densely populated trade area with over 118,000 residents and a daytime population of approximately 114,000 within a three-mile radius. It also provides excellent access to Interstates 215, 515 and 15.
Year to date, SRS Capital Markets has completed nearly $2 billion in deal volume comprised of 403 transactions in 43 states. SRS currently has in excess of 660 properties actively on the market with a market value surpassing $3 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.