Hanley Investment Group Real Estate Advisors arranged the acquisition of seven individual net-leased retail properties totaling $18.4 million on behalf of a 1031 exchange buyer. The sales closed within 52 days of each other.
Hanley Investment Group’s Executive Vice President and Partner Jeff Lefko and Executive Vice President Bill Asher represented the Minnesota-based private exchange buyer in these transactions.
The acquisitions included a mix of newly constructed and recently developed single-tenant and multi-tenant retail properties, many with long-term leases in high-traffic locations.
Some of the transactions included:
In Texas, Hanley Investment Group, in association with ParaSell, Inc., represented both the buyer and the sellers in two separate transactions for new construction single-tenant properties: Burger Boy Drive-Thru and Dutch Bros Coffee Drive-Thru at 5622 & 5642 UTSA Boulevard in San Antonio, located across the street from Costco and adjacent Interstate 10; and Son of a Butcher Drive-Thru at 480 West State Highway 114 in Grapevine, a popular Dallas suburb.
In Missouri, Hanley Investment Group, in association with John Shuff of Pace Properties, represented both the buyer and seller in the sale of a single-tenant 4,616-square-foot Total Access Urgent Care at 4400 Telegraph Road in Oakville.
In Iowa, Hanley Investment Group, in association with ParaSell, Inc., represented both the buyer and the seller in the sale of a new construction 7 Brew Drive-Thru absolute triple-net ground lease. The property is situated at the trade area’s dominant retail intersection, 4341 Merle Hay Road in Des Moines, on a pad at the high-profile Haymarket Square.
In Tennessee, Hanley Investment Group, in association with ParaSell, Inc., represented the buyer, for the purchase of a newly constructed single-tenant Chase Bank absolute triple-net ground lease at 4145 Franklin Road in Murfreesboro. The property is a pad to a Publix-anchored shopping center. The seller was North American Development Group based in West Palm Beach, Florida.
