JLL Arranges $70.254 Million Sale Of Napa Auto Portfolio Across Six Midwest States

The Napa Auto Portfolio consists of 41 net-leased retail properties located across six Midwest states: Michigan, Minnesota, Indiana, Illinois, Wisconsin, and Iowa. The portfolio totals 342,986 square feet and was sold for $70,254,000, resulting in a price per square foot of $205. The properties are leased to Napa Auto Parts with an 18.5-year weighted average lease term, indicating long-term stability in a recession-resistant industry.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $70,254,000
• Square Footage: 342,986
• Price per Square Foot: $205
• Brokers: Alex Sharrin, Jaime Fink, Marcus Pitts & Matt Hazelton - JLL
• Market: Michigan, Minnesota, Indiana, Illinois, Wisconsin & Iowa

JLL Capital Markets facilitated the sale of the Napa Auto Portfolio, involving key brokers Alex Sharrin, Jaime Fink, Marcus Pitts, and Matt Hazelton. The transaction emphasizes the strength of net-leased properties within the retail sector, particularly with a notable tenant such as Napa Auto Parts.