Encore Real Estate Investment Services negotiated the sale of a new-construction 15-year Tractor Supply Company in Lambertville, Michigan.
Evan Lyons and Joe Lopez represented the local developer, while the California buyer was represented by an outside broker.
The Tractor Supply Company was a build-to-suit freestanding building with a corporate-backed lease. The store opened for business in September.
This deal represented the lowest 15-year Tractor Supply cap rate sold in Michigan during the last three years. The property generated eight total offers from listing date to close.