SRS Real Estate Partners Sells Two Retail Properties In Brandon For $8.1M

The National Net Lease Group of SRS Real Estate Partners has recently sold two freestanding single-tenant retail properties in Brandon, Florida. The properties, located at 11201-11255 Causeway Boulevard, are occupied by popular restaurant chains Panera Bread and Chipotle. The sale price for these properties amounted to $8,125,000, with a total square footage of 6,454. The price per square foot equates to $1,258, reflecting the value of these retail assets in the market.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $8,125,000
• Date: 04/24/2023
• Address: 11201-11255 Causeway Boulevard
• Market: Brandon

Patrick Nutt and William Wamble, representing the National Net Lease Group of SRS Real Estate Partners, facilitated the sale of these retail properties. The properties were completed in 2023 and are subject to 15-year, absolute triple net leases. The blended cap rate for the sale was 4.34 percent. Notably, a New York-based private investor acquired the properties as part of a 1031 exchange, indicating the investment potential of these well-located retail spaces.