Chris Sanz And Kevin Sanz Acquire Southeast Retail Net Lease Portfolio For $48.2M

The Southeast Retail Net Lease Portfolio consists of a 12-asset collection of net lease properties, including bank branches, a fitness center, a pharmacy, an urgent care facility, and a quick-service restaurant. The total sale price of the portfolio is $48,200,000, with a total square footage of 94,139 and a price per square foot of $512. The properties are located across various markets, including South Florida, Tampa, Orlando, Houston, and Chicago.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $48,200,000
• Buyer: Chris Sanz & Kevin Sanz
• Broker Representatives: Alex Sharrin, Jeffrey Cicurel, Eric Osika & Noel O'Donnell - JLL
• Square Footage: 94,139
• Price per Square Foot: $512
• Market: South Florida, Tampa, Orlando, Houston, and Chicago

The transaction was facilitated by the brokers from JLL, highlighting a unique opportunity due to the portfolio’s staggered lease expirations, which provide an average remaining lease term of 6.5 years. The properties entail minimal landlord responsibilities, contributing to a favorable investment profile characterized by strong yields and credible tenants.