SRS Real Estate Partners has completed a two-property acquisition of single-tenant retail assets totaling $7.6 million. The properties include Parachute Plasma in Carrollton, Georgia and an Arby’s in Union, South Carolina.
SRS Capital Markets Senior Vice President & Managing Principals Britt Raymond and Kyle Fant represented the buyer, a New York City-based private investor who was in a 1031 exchange.
Following is information on each property:
Parachute Plasma is a 7,613-square-foot (sf) retail/medical property located at 1022 and 1024 Maple Street in Carrollton. Built in 2024, the property has a new 20-year triple net lease in place with zero landlord responsibilities. The property was acquired for $5.506 million.
Arby’s is a 2,364-sf quick service restaurant property located at 313 Buffalo-West Springs Highway in Union, South Carolina (Spartanburg MSA). Built in 2021, the property has approximately 16 years remaining on its absolute net lease with zero landlord responsibilities. The property was acquired for just over $2.12 million.
“We worked with the New York City-based buyer to orchestrate a successful $7.6 million 1031 exchange,” said Raymond. “Our client acquired two assets featuring different specialties and locations. Our team closed the acquisitions within 10 business days of the buyer’s Brooklyn multifamily asset sale, allowing the buyer to quickly replicate the investment revenue they were receiving, executing the 1031 exchange upleg with time to spare.”
Fant added, “Our goal when working with 1031 exchange clients is to make the process as painless and stress-free as possible as the required time to complete the entire transaction is very tight. We accomplished that goal, even with the added challenge of executing two acquisitions in different states.”
This year, SRS Capital Markets has completed more than $2.2 billion in deal volume comprised of more than 650 transactions across the nation. SRS currently has in excess of 845 properties actively on the market with a market value surpassing $3.7 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 29 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.