CrownPoint Partners closed the sale of a newly constructed, single-tenant net-leased property occupied by Range USA in Southgate, Michigan, to a publicly traded real estate investment trust. The sale price could not be disclosed.
Julius Swolsky and Shannon Bona, Managing Partners and Co-Founders of CrownPoint Partners, represented the seller, CA Commercial Development, and the buyer, FrontView REIT, in this off-market transaction.
The property, located at 12780 Reeck Road, comprises a newly built 14,933-square-foot building on a 2.2-acre parcel under a long-term absolute net lease. Strategically positioned just off Interstate 75, the site benefits from strong visibility and accessibility, surrounded by national retailers and hospitality brands such as McDonald’s, Taco Bell, Wendy’s, Comfort Suites, La Quinta, and Hampton Inn.
Founded in 2012, Range USA is the nation’s largest operator of indoor shooting ranges. The Southgate location, which opened in January 2023, features 20 state-of-the-art 25-yard shooting lanes, accommodating both handgun and long gun enthusiasts. Customers can choose from more than 70 firearm rentals or bring their own.
The seller, CA Commercial Development, based in Cincinnati, Ohio, is a commercial real estate development company that offers a comprehensive range of traditional, turnkey, and build-to-suit services for retail, restaurant, service, and medical projects across the country.
The buyer, Dallas-based FrontView REIT (NYSE:FVR), is an internally-managed net-lease REIT that acquires, owns, and manages primarily properties with frontage that are net leased to a diversified group of tenants. FrontView is differentiated by an investment approach focused on properties that are in prominent locations with direct frontage on high-traffic roads that are highly visible to consumers. As of December 31, 2024, FrontView owned a well-diversified portfolio of 307 properties with direct frontage across 35 U.S. states.
