NNN REIT Acquires 6 Tom Thumb Gas Stations In South Florida For $38.5M

NNN REIT has recently acquired six Tom Thumb gas stations in South Florida for a whopping $38.5 million. The properties in this transaction are located at 93 West Okeechobee Road, 8047 Southwest 67th Avenue, 6600 Southwest 80th Street, 18400 Southwest 177th Avenue, 17705 Southwest 248th Street, 4600 Dykes Road, and 6601 Nova Drive. These retail assets offer a total space of 32,540 square feet, with a price per square foot of $1,183.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $38,500,000
• Market: Hialeah, Kendall, Redland, Southwest Ranches, and Davie
• Buyer: NNN REIT - Stephen Horn
• Seller: Landco LLC - Thomas P. McCarthy
• Date: 08/25/2023

As part of the deal, NNN REIT has also secured a 10-year lease with Kent TT LLC to operate the gas stations. This strategic move not only adds valuable retail assets to NNN REIT's portfolio but also establishes a long-term partnership with Kent TT LLC.